May 3

tax our 401(k) retirement accounts and other retirement accounts into oblivion? Should we allow this and trust Congress to do what is best for us and the country, or should we take other action in our “democracy”?

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081007/REG/810079894


9 comments so far...

  • blindguy@rocketmail.com Said on May 3rd, 2010 at 10:03 am:

    IRA’s aren’t taxed–what are you talking about?

  • AmericanCultureWarrior Said on May 3rd, 2010 at 10:52 am:

    I am in a Roth 401(k), and I would not doubt that I am double taxed one day!

  • Sasparilla Said on May 3rd, 2010 at 11:31 am:

    Actually, Congress liberalized IRA’s. At first they were available only to people under a certain income and those folks could deduct contributions and defer tax on earnings. Then they started allowing higher income people to make contribuitons, which they could not deduct but could defer tax on the earnings.

  • chainbart Said on May 3rd, 2010 at 11:54 am:

    WE MUST RAISE TAXES
    I don’t care who is in charge in government, they MUST RAISE TAXES

    death tax increased to 75%
    capital gains increased to 45%
    upper income tax rate to 78%
    corporate business tax to 50%
    increase taxes on cigarettes, beer, guns, tires, and cable tv
    Increase gas tax to $1 a gallon, that way people will use less and purchase fuel efficient cars and slow down global warming

  • LISA C Said on May 3rd, 2010 at 12:37 pm:

    Hurry someone see if chainbar has normal brain function

  • Aymee L Said on May 3rd, 2010 at 1:06 pm:

    Soon..it’s their plan to get the so called rich guy..unfortunately most people who earn $35k and up have those type of retirement plan.
    This is also their idea of spreading the wealth.
    They also are going to limit contributions to 5% and integrate them into Social Security so instead of getting 2 checks you get 1 and the payments would be based on their already flawed system.

    Help the middle class…right…more like pulling the wools over their eyes and those not smart enough to see it will think the govt is doing them a favor.

  • Julie H Said on May 3rd, 2010 at 1:21 pm:

    Roth IRAs are what you are talking about. They were created with no tax deduction for the IRA and therefore there was no tax consequence when you began taking the money after age 59 1/2 either. Well, I never bought one knowing that would be one of the first places Congress would look to tax down the road. I never trusted them and don’t believe for a moment you would get to spend any profits taxfree. They won’t ever call it a tax but some kind of other word like “donation” or maybe “treasury contribution.”

  • Lyle G Said on May 3rd, 2010 at 1:55 pm:

    They haven’t yet but 100% of Congressional Democrats are on-board with complete confiscation of your retirement account. To stave-off the torches and pitchforks, they’ll start with “merely” taxing it.

  • Hockey Fan - JPA Said on May 3rd, 2010 at 2:26 pm:

    They’re not just going to TAX them they’re going to TAKE them.
    IF the market picks up as it was supposed to do if Obama was elected – get your money out fast.

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