Topic: Obongo budget to cap retirement plan accounts

[Pandora]

"... the Obama administration announced a plan to cap the total sum of any individual's retirement accounts at $3 million.

Stashing cash beyond that point, the administration insists, builds sums "substantially more than is needed to fund reasonable levels of retirement saving."

Reasonable as defined by whom?  Him and his merry band of thugs?  And what happens to the current accounts that are "unreasonably" funded?  Confiscation of everything over the cap?

Anything I would write now is better left unsaid. But I am telling you, I have had it.

H/T Pi

[IronDioPriest]

Unfreakingbelievable

[Glock32]

It's totally believable. And they get away with putting all the necessary regulatory frameworks into place because of the class warfare angle. Say magic words like "over three million dollars" and all the rubes approve because Eat The Rich! Stick It To The Man! Go Team! and all that. Then next thing you know it's a permanent feature of the political and economic landscape, with a constantly enlarged footprint because it can only ever be so with anything government.

Just like in Cyprus recently. There was a building furor over the so-called account "hair cuts" but then they changed it so that only high balance accounts were affected and the controversy went from a rolling boil back to just a simmer because class warfare works. Envy works. That's why it's the go-to weapon in the Left's rhetorical arsenal.

Fools. All these morons who are happy as long as Ivan's goat is killed.

[Pandora]

Unfreakingbelievable

Worse.  News all day has been reporting that his budget also "calls for a slight decrease in the growth of Social Security".  Do I believe that for a minute?  Depends.  He IS focused on reducing everybody but a select few to a state of penury, so let's stipulate to that, just for the sake of argument.

What kind of evil wants to make "slight cuts" to Social Security and simultaneously to prevent people from saving privately as much as they can?

[Predator Don]

"... the Obama administration announced a plan to cap the total sum of any individual's retirement accounts at $3 million.

Stashing cash beyond that point, the administration insists, builds sums "substantially more than is needed to fund reasonable levels of retirement saving."

Reasonable as defined by whom?  Him and his merry band of thugs?  And what happens to the current accounts that are "unreasonably" funded?  Confiscation of everything over the cap?

Anything I would write now is better left unsaid. But I am telling you, I have had it.

H/T Pi

And I didn't think anything tbis asshat could do would amaze me.

[IronDioPriest]

I haven't had time to look too deeply into this. Is he proposing that no one be able to save over 3,000,000, or that tax deferred retirement accounts not be allowed to exceed that amount?

Either way... Nuff said. Don't need SS beating on my door.

Also, I just love how the article characterized the governments claim that this move would "save 9 billion over ten years", taking for granted the governments position that all money is by default the property of government. They confiscate it, we'll that's "savings". Permit those who earned it through productive commerce, well that's a "cost". And of course it follows that that "cost" steals food from the gaping maw of the self-evidently righteous po' chirren.

#WAR

[warpmine]

If they're going iin this direction then you best stop everyone who has money from leaving the country as they did in Cuba and the other utopian paradises and begin to redistribute the fortunes of the Gates', Soros', Gore, Kennedy, Clinton and lest us not forget Comrade President Obamakov and the rest of the scum. Quickly grab the fortunes of the elites of Hollyweird as well. We're all commie bastards now , right?

f**king gernig 

[ChrstnHsbndFthr]

Government should not be in the business of maniplulating us for their own policy goals. We need a flat tax or a fair tax, but we do not need this current "do exactly as I decree and I will tax you less, unless I do not want to today, type of policy. 


I am a little pissy and not so self-controlled today.......does it show?

[Glock32]

Government should not be in the business of maniplulating us for their own policy goals. We need a flat tax or a fair tax, but we do not need this current "do exactly as I decree and I will tax you less, unless I do not want to today, type of policy. 


I am a little pissy and not so self-controlled today.......does it show?

I would say you are remarkably restrained if anything. It's something new every damn day with these people. I think to some extent they don't even really care about achieving a particular goal so much as just giving us another shove, a reminder that the citizen is their property.

The whole "do exactly as I decree and I will tax you less" thing is part of their "involuntarily voluntary" approach. They use it to manipulate people into behaviors that they can't outright demand (well, not yet) due to restrictions on their power. But those restrictions are being watered down to meaninglessness by tactics like "do exactly as I decree and I will tax you less".

[Libertas]

Camels nose?  Hardly!  If you see the nose you're looking at the wrong end of the tent, his ass is almost all the way frickin tent!

Let them define something the trend can only go one way - WORSE!

WAR!

[ToddF]

I saw it reported as an Anti-Romney provision as Mitt Romney supposedly has $100 million in an IRA.  One of SCoaMF's little Poli Sci retard assistants actually called Romney out by name, when talking with low information journalism.

Republicans should counter with a hard $3 million life cap on all government pension/health care benefits, then see how long the "Screw Romney" provision lasts.

Really, all this will do is to chase more money and resources out of America, and to greener pastures.

[IronDioPriest]

I saw it reported as an Anti-Romney provision as Mitt Romney supposedly has $100 million in an IRA.  One of SCoaMF's little Poli Sci retard assistants actually called Romney out by name, when talking with low information journalism.

Republicans should counter with a hard $3 million life cap on all government pension/health care benefits, then see how long the "Screw Romney" provision lasts.

Really, all this will do is to chase more money and resources out of America, and to greener pastures.

Which of course, to my way of thinking can now only be honestly viewed as the goal of the Leftists. All evidence shows  that their entire agenda rests on the destruction of capitalist America as their prime requisite. Nothing they envision can come to fruition without first bringing capitalism to its knees.

Treason such as this should be punished with the death penalty.