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Obama and Retirement Plans May 31, 2012

Posted by screaminglunatic in Uncategorized.
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Keeping in mind that BO will “have a lot more flexibility after the election”, the government wants your money. Last I hear, there is 18 trillion dollars in private retirement accounts and government and in particular the liberal/left part of government, want some of that money.

Prediction: After the election, particularly if BO wins, we will begin to hear from the BO lemmings in the press calls for a rejiggering of the rules governing 401k’s, 403b’s and IRA’s. Keeping in mind that some people use them as tax shelters as a way of moving out of  the Alternative Minimum Tax bracket which is above one hundred thousand dollar range. Also, some use them as tax shelters to prevent high tax places like NYC, NYS and California from taking too much of the individuals money. If you work in those states but retire in Florida, those states get none of the revenue from your accounts. Lastly, all that money in retirement accounts managed in large part by the people of Wall Street, well you can hear the calls of the occupy movement just mentioning Wall Street. Moving control of some of these retirement accounts to that of the government, would give those in power even greater economic power and control. Which is of course what government is all about.

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