In response to:

Obama's Budget Targets IRA Savings

Dr_Zinj Wrote: Apr 10, 2013 3:25 PM
Hmmm. "limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement" A limit on the total amount of funds you can have in tax deferred accounts is not confiscation under any definition of the word. You hit the $3M mark, you have to invest in other areas under other tax schemes. Considering I'm 54 years old and my gross married filing jointly income is less than half that, I'm not likely to ever be concerned about it. Neither are the other 80 to 90 percent of Americans. Sorry Bob, your argument doesn't make sense.
Tree11 Wrote: Apr 10, 2013 5:45 PM
This proposal is just a start. After inflation and redefinition of what an individual needs, 80 to 90 percent of Americans will have to worry about it.
Dr_Zinj Wrote: Apr 11, 2013 9:43 AM
I'm slow, not stupid. (ignorance can be cured with knowledge and education, stupid just won't learn at all.) I'm saying Bob needs to explain it better, in smaller words if possible.

Four years ago, my remarkably prescient wife warned, "You just watch, one day he will go after our retirement accounts."  The "he" she was referring to was the new President who had placed priorities on "spreading the wealth" and "transforming America."

I responded that no politician, not even the uber progressive  Barack Obama, would be foolish enough to confiscate personal IRA and 401-k accounts.  It looks like my wife was right, again.

According to a White House statement released in advance to, Obama's...