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

RedTruck Wrote: Nov 29, 2012 11:59 PM
Barack Obama will not rest until he has taxed every single achiever in this nation into bankruptcy. He is looking at families that earn 250k a year - that is what Michelle Obama spends on one shopping trip - preparing for a 4 or 5 million dollar vacation. Earth to the President - you can not make poor people rich - ever - anyway - by making rich people poor - unfortunately his taxes, his dreadful economy, his ridiculous minions - all of that will hurt those who need to be helped the most - more poor, more welfare, more food stamps, more disability - more votes for Dems.

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...