Dama Godiva

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I’m Coming After Your Savings!


Photo courtesy of Jim Watson/AFP/Getty Images 

Does this sound a little bit like socialism? I wonder what the liberals call this cap on IRA accounts or maybe they think no one should have more than $3,000,000 since we shouldn’t be working.

President Obama’s budget, just sent to Congress, proposes to cap tax-advantaged savings across all accounts at $3 million in order to raise $9 billion over 10 years. The proposal is being spun as a way to prevent wealthy private-equity executives from amassing huge IRAs.

The White House explanation is that some people have accumulated “substantially more than is needed to fund reasonable levels of retirement saving.” Who are they to say how much money you need to retire?

Out in the private economy, people generally have to work longer than 30 years before they retire, and some of them do manage to save significant amounts. We’re talking about people who work for decades and abstain from buying the bigger house or the new car so they can contribute the maximum to their 401(k)s or IRAs. The people who defer gratification and build a nest egg to avoid becoming a burden on their kids or their fellow taxpayers. The people whose savings finance productive enterprise. You know, the bad guys.

¿Esto suena un poco como socialismo? Me pregunto lo que los liberales llaman a este límite en cuentas IRA o tal vez piensan que nadie debe tener más de $ 3.000.000, ya que no debería estar trabajando.

El presupuesto del presidente Obama, acaba de enviar al Congreso, propone limitar el ahorro con ventajas fiscales en todas las cuentas de $ 3 millones con el fin de recaudar $ 9 mil millones 10 años. La propuesta se giró como una manera de prevenir ricos de capital privado a ejecutivos de cuentas IRA amasando enormes.

La explicación de la Casa Blanca es que algunas personas han acumulado “mucho más de lo que se necesita para financiar niveles razonables de ahorro para el retiro.” ¿Quiénes son ellos para decir cuánto dinero necesitará para jubilarse?

Afuera, en la economía privada, las personas generalmente tienen que trabajar más de 30 años antes de jubilarse, y algunos de ellos se las arreglan para ahorrar cantidades significativas. Estamos hablando de gente que trabaja desde hace décadas y se abstengan de comprar la casa más grande o el coche nuevo para que puedan contribuir al máximo a su 401 (k) o IRA s. Las personas que postergan la satisfacción y construir un nido de huevos para evitar convertirse en una carga para sus hijos o sus compañeros de los contribuyentes. Las personas cuyos ahorros financiar emprendimientos productivos. Ya sabes, los chicos malos.

Read more: http://business.time.com/2013/04/10/obamas-budget-would-cap-tax-advantaged-savings/#ixzz2QGfvZExq


Read more: http://business.time.com/2013/04/10/obamas-budget-would-cap-tax-advantaged-savings/


2 comments on “I’m Coming After Your Savings!

  1. JohnRH
    April 12, 2013

    Where is my insanity list? It is beyond me how any thinking, breathing human bean (pun intended) can think this is a good idea. He might as well just say “from each according to his ability to each according to his need” and be done with it.

    • damagodiva
      April 12, 2013

      You need to keep that list handy at all times.

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This entry was posted on April 12, 2013 by in USA Politics and tagged , , , , .

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