• Obama: Limit retirement tax breaks for the rich
    11 replies, posted
[quote]President Obama on Wednesday announced a plan that would prohibit individuals from reaping tax advantages on IRAs and other tax-preferred retirement accounts when funds exceed a certain threshold. By proposing this cap as part of his 2014 budget, Obama is taking aim at those who stash many millions of dollars in tax-advantaged retirement accounts -- which he argues is more than enough to retire comfortably.[/quote] [url]http://money.cnn.com/2013/04/10/retirement/obama-retirement-saving/index.html?hpt=po_t1[/url]
yes
I honestly didn't know you got tax breaks for being retired.
Good. At least there are a few small tax initiatives in his budget to make up for selling out the old and the poor, again.
Yes, please.
nintenman1 will probably think this post is dumb
[QUOTE=person11;40241046]nintenman1 will probably think this post is dumb[/QUOTE] and won't explain why
Now it's laserguided. But anyway, I think Obama is right in this. I am a bit skeptical about his proposed social security cuts, but SOMETHING besides military cuts has to happen to lower the deficit.
But about someone like me who is poor and wants to have money? Wouldn't I be screwed over when I'm older, have money that I earned, and the benefits of retirements aren't going to be as good as I hoped?
Pretend David Cameron and the ghost Margaret Thatcher show up right now and tell you that the economy getting better and growing will automatically give you more money.
[QUOTE=Pvt. Martin;40241205]But about someone like me who is poor and wants to have money? Wouldn't I be screwed over when I'm older, have money that I earned, and the benefits of retirements aren't going to be as good as I hoped?[/QUOTE] It says "when funds exceed a certain threshold" so probably not, unless you think you're going to have millions of dollars on retirement.
[QUOTE=Mr. Someguy;40239364]I honestly didn't know you got tax breaks for being retired.[/QUOTE] it's for all those hardworking americans to encourage them to...not work i guess.
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