Bobusnr

Uncatagorized

White House: Some of you are trying to save more than you need, and we’re not going to have that

Welcome and thank you for stopping by. Please be aware and

advised, this is a CONSERVATIVE BLOG. Here is some information

and my rules:

 

1) I do not like Liberal Ideology;

 

2) Conservatives have the voice of reason on my blog;

 

3) I will delete any comments that are abusive, non-related to

the “blog theme” and not debated in a civil manner;

 

4) I welcome input from all walks of life. However, this is my

blog and I will make the “ultimate” decision on any/all

comments.

 

I encourage “civil” discussion. We may not agree on “ideology”.

However, we can agree on “respect” and at least listening to

different perspectives. Thank you for visiting!

 

This is a reblogged from http://canadafreepress.com.

posted by Dan Calabrese 

Author

Via Dave Ramsey: I will quote the White House directly.

“Under current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”

According to advance reports, the administration’s budget due out on Wednesday will propose a cap limiting the amount of annual return a retirement account can create to $205,000. If that proposal were enacted today, that would mean retirement accounts would be limited to $3 million in assets. The White House estimates that caps on the tax-preferred accounts would generate $9 billion over 10 years.

The argument for this, of course, is that it will only affect the super-rich. That might be true if you only consider who will be among the affected account-holders. But what the Obama Administration and the media never understand is that changing economic behavior on the part of Party A always affects Parties B through Z. The U.S. News story offers one example of how this could happen:

Based on past annuity prices, EPRI projects that the account threshold could fall as low as $2.2 million, and even lower if and when interest rates grow.

Of course, a threshold of $2.2 million would still only take into account a small sliver of Americans. But depending on how such a plan is administered, it could discourage employers from providing retirement plans, fears one expert.

“I think a lot of what people are missing about this is this is most likely going to be very, very difficult from an administrative complexity standpoint for employers to deal with this,” says Jack VanDerhei, research director at EPRI.

Exactly how such a plan would be implemented is impossible to know right now, as the details are still sketchy. But the difficulty of keeping track of an employee’s retirement account—particularly if that employee has multiple accounts held over from last jobs, for example—could cause some employers to throw up their hands, says VanDerhei.

But beyond all this, there is a far more fundamental question that needs to be considered. Who the hell is Barack Obama to decide what constitutes a “reasonable” retirement nest egg? And even if I don’t need $3 million, what do you think entitles you to it? I’d be willing to bet that the average private individual who has earned $3 million and “doesn’t need it” will still do more with it to benefit society than the government would.

Why do these people think that every dollar people “don’t need” should consequently be handed over to the government? What is the basis for thinking the government will do anything good with it?

 

Advertisements

Single Post Navigation

Comments are closed.

Brittius

Honor America

China Daily Mail

News and Opinions From Inside China

sentinelblog

GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Politically Short

The American Reality Outside The Beltway

My Opinion My Vote

America needs saving

America: Going Full Retard...

Word: They are acting. They are creating. They are framing their reality around you. And we … we bark at the end of our leashes. Our ambition for freedumb is at the end of our leash.

hillbillysurvival

The greatest WordPress.com site in all the land!

I am removing this blog and I have opened a new one at:

http://texasteapartypatriots.wordpress.com/

Reclaim Our Republic

Knowledge Is Power

Lissa's Humane Life | In Honor of George & All Targeted Individuals — END TIMES HARBINGER OF TRUTH ~ STANDING FIRM IN THE LAST HUMAN AGE OF A GENOCIDAL DARKNESS —

— Corporate whistle blower and workers’ comp claimant, now TARGETED INDIVIDUAL, whose claims exposed Misdeeds after the murder of my husband on their jobsite by the U.S. NWO Military Industrial Complex-JFK Warned Us—

Linux Power Wordpress.com

Just another WordPress.com weblog

redpillreport.wordpress.com/

The ‘red pill’ and its opposite, ‘blue pill,‘ are pop culture terms that have become symbolic of the choice between blissful ignorance (blue) and embracing the sometimes-painful truth of reality (red). It’s time for America to take the red pill and wake up from the fog of apathy.

The Mad Jewess

Mirror Site For Reflection

Freedom Is Just Another Word...

Rules?? What Are rules? I don't need no stinking rules!!!

sharia unveiled

illuminating minds

JUSTICE FOR RAYMOND

Sudden, unexplained, unattended death and a families search for answers

THE GOVERNMENT RAG BLOG

TGR Intelligence Briefing

Flyover-Press.com

Dedicated to freedom in our lifetimes

News You May Have Missed

News you need to know to stay informed

Automattic

Making the web a better place

%d bloggers like this: