Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Exactly. And the government is using the poor and the middle class to take way too much control. If someone earned it, if someone invested wisely, when people are responsible why is it the right for anyone to determine what someone puts away for retirement. On top of that, why should the irresponsible have a say either. Obama is using you so he can go after more tax revenue but I do not see an improvement in the poor peoples circumstances so why are they allowing themselves to be used? Because they think they Obama promised them they are going to get some of the dole. So far I do not see that Obama kept his promise.
And we've had how many pages of discussions here discussing just 1 other way that people who are rich, arent being attacked, while the working class is by this administration, but how about others..
Hey William, how about people who own businesses worth over $3M, and they plan to sell it upon their retirement? Are they next going to say that you cant own a business worth $x because the value of that business isnt being taxed until its sold and spent?
I know someone who has a car collection, and while the value isnt near $3M, its their retirement fund. How about if they manage to acquire $3M+ in cars, why dont we demand that they stop accumulating?
Hell, my internet company probably has $3M in inventory, and because I'm a sole proprieter, does this mean it cant acquire more? We wouldnt want people to have too much saved when they retire, we want them dependant upon Social Security..
According to the following people with salaries over 100k in their 50s and 60s have less than 400k in their accounts. That is a far cry from 3 million.
And the government expects to get $9 billion in NEW revenue over 10 years from this.
Yipee..the government is getting REVENUE off the backs of those that saved for 30+ years to fund their retirement.
To be fair IRAs are taxed advantaged investment vehicles so restrictions are reasonable.
And there are already restriction but now Obama wants to raid them for higher tax revenues so he is drawing new lines in the sand (like he always does) and government always will when they need more tax revenue. Obama is selling it by the saying that he is going after the rich.
To be fair IRAs are taxed advantaged investment vehicles so restrictions are reasonable.
Let me quote something I read once, and see if you still agree
Once upon a time there were two farmers named Joe and Bob who lived in the Kingdom of Ira. The King of Ira said to Joe and Bob that they must pay one fourth part of their grain as a tax. But, being a kind and wise king, he gave them a choice. They could pay a fourth of their seed in the spring or a fourth of their harvest in the fall. Joe chose to pay a fourth of his seed and so could sow only three fields, but kept all that he reaped. Bob decided to keep all his seed, and planted four fields, but had to give the bounty of one of those fields to the king. Both farmers had three fields worth of grain to feed their families and so lived happily ever after.”
But lets go with your argument..
US Treasuries are also tax advanged, does that mean people shouldnt be able to buy $3M+ worth of bonds? Where the hell would the govt be if they did something that dumb?
And there are already restriction but now Obama wants to raid them for higher tax revenues so he is drawing new lines in the sand (like he always does) and government always will when they need more tax revenue. Obama is selling it by the saying that he is going after the rich.
And the biggest problem of course is they want to change the terms of the agreement, AFTER these people put their money in..
And people wonder why there is such a distruct of government.
Looks like only rich posters here all with skin in this game.
Nah..Gates and Buffet are rich. The rich have Trusts. The rich are protected.
Who they are going after is the upper middle income group.
Not 20 something's but in their 60's who have 30+ years of accumulated deferred investments.
I certainly don't begrudge them for what they did and certainly don't want the government deciding what's a "fair" retirement income for people..do you ?
The government will get their tax IN TIME when these retired folks start withdrawing or die. But the government doesn't want to wait..they want their new revenue money NOW.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
