We knew it. All that money sitting there in IRAs was just too juicy a target for these marxist thieves. It's "unfair" that you saved and the illegal immigrants down the block who just got here didn't. Or the poor single mom with a half dozen kids on welfare her entire life, talking on her obamaphone while she cashes in her food stamps. So time to share. Pony up you suckers who saved for your retirement. Obama is proposing a tax or perhaps outright confiscation(if not now, later) on IRA balances that are "too big". Apparently they consider anything over $3 million excessive. In true liberal fashion, he will decide how much you legitimately "need" for retirement. He's also happy to decide what kind of medical care you'll get (piss poor), what kind of gun you can have(none) and what you can eat( grass). http://thehill.com/blogs/on-the-money/domestic-taxes/292071-obama-budget-to-target-wealthy-iras This is just another example of why you can never trust the government. People laid up money in these accounts over the years on the promise that it would not be taxed until withdrawal. Well, forget that. Emperor Obama needs to fund more of his Hugo Chavez-style vote buying or maybve just a couple more lavish vacations for himself and a few dozen rappers.
"Obamaâs framework also includes higher taxes on cigarettes," I'd like to propose a different scenario on "price gouging" cigarettes. Back when smokes were $5 a pack the eventual outcome is now $10 a pack due to additional $5 pack tax. What I would have like to seen is back when smokes were $5 a pack the tobacco companies raised the price $5 a pack. I'd rather have the mfg get the extra $5 a pack, they make good use of the profits. Then the pols would never been able to raise the cig tax another $5 on top of the profiteering on the mfg. ----------------- Anyways back to the IRA, I like how the author singles out Romney. *Sarcasm*
We're long overdue for a revolution!!! LONG overdue!!!!!!!!!! Mark my words, this evil NAZI will tear this Country to shreds long before he leaves office in 2016! We're going to repeat history, and it scares the living hell out of me!
In the eyes of the left people who save money are a huge drain on the economy so it doesnt shock me to see obama doing this, in left wing keynesian eyes, the people who must be rewarded are those who leverage themselves to the tits, and max out every credit card they have, those are the people who create a strong vibrant economy.
We know this won't get through the Senate let alone the House. But it does signify that the gauntlet has been thrown down and maybe it will wake up some well to do people who think Obama is doing some good. Because, he's not.
Since they don't seem to grasp the FACT that this Tyrant is trying to destroy America, I FUCK EM! They deserve the Nazi they voted for!
Yes, they do. Stupid, greedy people usually deserve what they get. But the rest of us don't deserve to have our lives destroyed along with them.
That's a fact! And if someone would have told me we'd be in this kind of shape 20yrs ago, I would have told them they were nuts. We've certainly had Presidents who were self-serving types. But NEVER have we had one who's hell bent on destroying America.