Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Obama Budget to Cap Retirement Accounts at $3 Million
Big Government ^ | 4-5-2013 | Tony Lee

Posted on 04/05/2013 6:32:16 PM PDT by Sir Napsalot

click here to read article


Navigation: use the links below to view more comments.
first previous 1-5051-100101-117 last
To: Sir Napsalot

I bet this MF has accumulates $100M so far and prolly more.


101 posted on 04/06/2013 4:51:51 PM PDT by chooseascreennamepat
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sir Napsalot
According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals "to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving."

Does this also include the politicians that go to Washington as paupers and retire as multimillionaires, too? Or is this just another attack on the American citizens they scammed all their millions from?

102 posted on 04/06/2013 5:11:53 PM PDT by concerned about politics ("Get thee behind me, Liberal")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tymesup

Anything that alters behavior will bear unintended consequences. They can only guess at the end result. Some things are obvious and perhaps are what they’re looking for.
You don’t get a tax break so you don’t put the money into a retirement plan the money will go into a bank and boost tier 1 capital. You spend it so velocity picks up. Those are two obvious beneficial results. Less money into money managers hands means less growth overall in equities and less capital available to buy debt. Of course the banks will likely be sitting on more cash so they will be the big beneficiaries.
Very interesting. If i sat and thought about this longer i bet i come up with at least 50 more results.


103 posted on 04/07/2013 2:53:03 AM PDT by wiggen (The teacher card. When the racism card just won't work.)
[ Post Reply | Private Reply | To 55 | View Replies]

To: nascarnation

No Demoncrat Weasel Dirtbag Felons who are card carrying Obamists will be exempt.


104 posted on 04/07/2013 5:21:03 AM PDT by Shady (Libya shows us how Americans rate...)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Sir Napsalot

Cyprus writ large by a larger turd in office.


105 posted on 04/07/2013 5:39:18 AM PDT by theDentist (FUBO; qwerty ergo typo : i type, therefore i misspelll)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Shady

Only in a just world ....... my FRiend.

Somehow I doubt you and I live in that ‘reality’.


106 posted on 04/07/2013 6:23:25 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
[ Post Reply | Private Reply | To 104 | View Replies]

To: stockpirate

Class warfare has worked its charm among the lazy, low information dufuses among us. The Democrats should be so proud of themselves. They have successfully made accomplishment an evil concept. We are so screwed in this country.


107 posted on 04/07/2013 7:19:39 AM PDT by dowcaet
[ Post Reply | Private Reply | To 3 | View Replies]

To: dowcaet

just the next step in the persistent march towards wealth confiscation. The government taxes your income, your investments, your spending and even your non-spending (e.g. Obamacare “tax”). It’s just a matter of time before they confiscate accrued assets while you are still alive.


108 posted on 04/07/2013 7:22:02 AM PDT by littleharbour ("All men having power ought to be distrusted to a certain degree. ~ James Madison)
[ Post Reply | Private Reply | To 107 | View Replies]

To: Sir Napsalot

Thank God we have Barack Hussein Obama (aka Barry Soetero) and the federal government Democrat leftists around to tell us what we Americans need or don’t need.

Whew!

Imagine what kind of a disaster our country could be facing without them!


109 posted on 04/07/2013 11:16:10 AM PDT by XenaLee (The only good commie is a dead commie.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: littleharbour
The only way to beat these confiscatory commies is to just not accrue any wealth that they 'could' confiscate. Of course ....that's not going to be a problem for most Americans now.
110 posted on 04/07/2013 11:20:58 AM PDT by XenaLee (The only good commie is a dead commie.)
[ Post Reply | Private Reply | To 108 | View Replies]

To: XenaLee

how very hugey long. He proposed a total cap on property of five million.

Obama, from each to each.

Obama and the MSM are communists by their ACTIONS.


111 posted on 04/07/2013 11:25:25 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
[ Post Reply | Private Reply | To 110 | View Replies]

To: Alberta's Child

This is a ploy to make the “poor” hate the “rich” more. How many people will ever save $3 million in an IRA? I figure most of the people in the US would not be hurt by this BS. So, they’ll be all for it.


112 posted on 04/07/2013 6:33:05 PM PDT by VerySadAmerican
[ Post Reply | Private Reply | To 28 | View Replies]

To: driftdiver
"This proposal would raise $9 billion over 10 years."

Nine billion as in $900 million in a year.

As in roughly what Obamao blows through in seven or eight hours and that assumes the people who actually earn that money will meekly fork it over in taxes rather than move it off-shore or not even earn it at all. How likely is that to actually happen?

113 posted on 04/07/2013 9:33:40 PM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
[ Post Reply | Private Reply | To 5 | View Replies]

To: wiggen

One of the things that happened when they lowered the retirement plan limits is that they made these plans less important to executives. Not surprisingly, executives decided it wasn’t important to fund these plans well. Lower funded plans = employees get less benefits, taxpayer picks up tab, balance sheets get more volatile.


114 posted on 04/07/2013 9:36:15 PM PDT by Tymesup
[ Post Reply | Private Reply | To 103 | View Replies]

To: Tymesup

Wait. Defined plans are poorly funded at the city and state level as well. This is a symptom and not something endemic to businesses. The poorly funded plans are largely if not exclusively in union shops.


115 posted on 04/07/2013 11:40:04 PM PDT by wiggen (The teacher card. When the racism card just won't work.)
[ Post Reply | Private Reply | To 114 | View Replies]

To: Sir Napsalot

So apparently, it’s not enough to steal 42% of my income, he has to come for my savings, too.

What a POS.


116 posted on 04/08/2013 9:32:21 AM PDT by TheThirdRuffian (RINOS like Romney, McCain, Dole are sure losers. No more!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nascarnation

How about Dirty Harry Reid???

Feinstein? Boxer??? Pelosi??? Schumer??? Jessee Jackson???


117 posted on 04/08/2013 5:13:53 PM PDT by ridesthemiles
[ Post Reply | Private Reply | To 10 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-5051-100101-117 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson