In response to:

Fiscal Cliff Idea: How About We Tax Your 401k?

B1RD Wrote: Nov 29, 2012 4:08 PM
Why not! Soon we will be taxed on the air we breath and the water we drink because we will not own it any longer and have no strength to say or do anything about it! Have you noticed how the market moves when a senator or congressman speaks! They have become so all important that everyone is walking on egg shells. The sad thing is these people leading our country and very dull in the brain when it comes to common sense and actually managing assets and people to get results and optimize return! But, we all know they can SPEND!
Free_Markets_Free_People Wrote: Nov 29, 2012 4:12 PM
Come on be realistic. We won't be taxed on the air we breath. We will be taxed on the air we exhale since it contains the dreaded CO2 which contributes to plant life.

How do you feel about the government touching your private retirement account known as your 401k in order to "pay down the deficit?" Not so good? Already feel like the government has stolen your retirement through Social Security? Well get ready because taxing the 401k is floating around as an idea while the fiscal cliff talks on Capitol Hill continue.

One of the earliest fears about tax-favored savings accounts like IRAs and 401(k) plans was that when this pool of savings grew large enough Congress would not be able to resist tapping it to help solve the...