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Obama proposes to cap IRAs

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When will these freaking people leave folks the F ALONE?

 

 

 

"The protection guaranteed by the amendments (of the Constitution) is much broader in scope.

 

The makers of our Constitution undertook to secure conditions favorable to the pursuit of happiness.

 

They recognized the significance of man's spiritual nature, of his feelings and of his intellect . . .They sought to protect Americans in their beliefs, their thoughts, their emotions, and their sensations.

 

They conferred as against the government the right to be left alone, the most comprehensive of rights and the right most valued by civilized men." Justice Louis Brandeis

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IRA minimum required distributions are designed to deplete accounts so basically you are broke when your 85. The article says three million.

 

So if you max your 401K and grow it, you could hit his limit. A 100K into apple in 2002 would be like 5 million today . Give it back you greedy sob's.

 

First he came for your guns, now he comes for your money.

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he senior administration official said that wealthy taxpayers can currently “accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”

 

Under the plan, a taxpayer’s tax-preferred retirement account, like an IRA, could not finance more than $205,000 per year of retirement – or right around $3 million this year

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Seriously, is there one person in the USA who agrees with this?

 

Democrats who would've been outraged by it 5 years ago, will now think it's a swell idea.

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I'd need to see more details but its not the worst idea I've heard. Can't imagine that it affects all that many people or has a major impact on revenue though.

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