[Rusty0604]

I didn't see this posted yet

[Republican Wildcat]

Trying to help lower-wage workers save for retirement by reducing the 401(k) and IRA contribution limits is like trying to cure a headache with a guillotine. - Hatch

That's a good way of putting it...

[Perdogg]

Before people jump on Boehner, this is coming from the Senate. This would not make it constitutional.

[Toddsterpatriot]

Great idea!
They wasted the money in the Social Security “Trust Fund” and now they want to make it harder for us to save for our own retirements.
Give me back the 12.4% you've been taking from my paycheck, you no talent assclowns.

[al baby]

Tax my losses FUBO

[yup2394871293]

Democrats love the idea of a raid on private pensions.

[ClearCase_guy]

Hey, Obama -- just go ahead and seize all of our IRA and 401(k) savings, and give those trillions of dollars to Europe so that they can bailout Greece and Spain.

You know you want to.

[ZippyTheGreat]

My company will probably give up and bail out on our 401(k) if this happens. Yet another reason to hate this dysfunctional government!

[RKBA Democrat]

Yup. Looking to squeeze the last little dribbles of wealth out of the middle class.

[Pontiac]

Gale cited the Tax Policy Center's estimate that the immediate, direct revenue loss associated with contributions to IRAs and 401(k) plans will exceed $1 trillion over the next decade. Converting current deductions to a tax credit worth 18% of a taxpayer's retirement saving contributions would raise more than $450 billion in revenues over the next decade relative to current law, he says.

There you go. There is what this is really about. The Lefties are all up in arms that IRAs and 401Ks are reducing TAX REVENUE.

OH NO THE PEOPLE ARE SQUIRLING AWAY MONEY AT THE EXPENSE OF TAX REVENUE!!!

WE MUST PUT A STOP TO THIS IMMEDIATELY

[God luvs America]

here’s the best thing- the rats want to means test medicare, reduce social security payments for the “rich” and now reduce the amount they can save for retirement...in essence they want to create another class of citizens to welfare status...

[Fred Hayek]

How dare people plan for their own future, rather than be dependent on the Government. Such a concept is so selfish and mean spirited, oppressive of the poooor, not to mention raaaacist, sexist, and homophobic. Everyone should give all their income to the Government, and the Government will give them a little to get by on, as long as they worship the Government. (Except for of course the nomentklatura, they work so hard for us proletarian scum).

[spokeshave]

...........does it apply to a 201(k)..?

[txmissy]

*

[NonValueAdded]

“When in the Course of human Events, it becomes necessary ...”

[KarlInOhio]

It looks like one of the major plans is to tax you now, give you a small dog biscuit of a tax credit for saving, and then tax you again on the whole amount when withdrawing it - even the part you already paid tax on. I think I would just skip and keep the money in a normal account and pay capital gains instead of regular income tax. (unless Obama uses a new Buffet tax to wipe out the lower cap gains rate)

[FlingWingFlyer]

The Kenyan and his Marxist pals stay awake all night thinking up ways to take away YOUR money. How 'bout that "spread the wealth around" bull****?

Anybody see the two "Please Make Me Pay More Taxes" fairies on O'Reilly tonight? ROTFL!!! Those two pixies shouldn't be allowed to have money. A couple of braindead morons. When Bill asked them why they just don't write a check to the Treasury and STFU, they both said they are sending the the difference between what they now pay and what they want to pay to their "charity". Ah yeah! Right! What a hoot. Morons on parade.

[Alberta's Child]

Interesting, but I don't see most of these proposals as all that draconian. For one thing, reducing the maximum that can be contributed by those 50 and older under the "catch-up" provisions of the tax code for 401(k) and IRA accounts isn't all that big a deal. I believe those "catch-up" provisions didn't even exist until a few years ago (2008, maybe?).

[unixfox]

Just wait till they try to confiscate the gold. AGAIN.

[1010RD]

Great more certitude under which to make a decision.

This is the problem with political leadership - death by a thousand cuts. You don’t help the patient by cutting slowly and over time.

We need a leader to say ‘Here’s what we’re going to do. It will be painful, but at the end we’ll be stronger and better for it.’ Get it over with already - take the losses and let’s move on.

[RockyMtnMan]

Let me cash out and pay a flat 15% tax on the sum (and NO penalties) and I’d be out of my employer sponsored 401k in a heartbeat.