You can classify this under Cha Ching!
That’s what immediately came to mind when Obama and his team of economic deconstructionists (the ones who believe YOU didn’t create that small business) learned how much retirement assets total in this country.
A 2012 study by the Investment Company Institute found that U.S. retirement assets total $18.5 trillion! The figure is comprised of $3.5 trillion in IRAs and $5.1 trillion in 401(k) plans). CHA CHING!
This target is too tempting for the administration to ignore faced with their spiraling budget deficit with talks it is approaching $20 trillion.
Ironically when these two programs were originally designed it was because it was felt that Americans did not save enough for their own retirement. These plans were put in place to supplement social security and to incentivize us to save. That was before!
Now with the big government socialists in power, current thinking is that responsible savers are denying the federal government the tax revenue it deserves! Insanity doth reigneth in Washington.
If this doesn’t scare the hell out of you, I don’t know what it will take. According to Townhall.com, 401k, and IRA owners are first on the Democrats’ radar and may see their plans taken away.
“House Democrats are planning on eliminating those tax breaks and converting the private plans to government-controlled retirement accounts, where they will be at risk for insolvency.”
After listening to the following video it will be clear why my advice is, you should start looking for ways to protect the saving in your IRA or 401k if you’re lucky enough to still have one.
Here’s just one opportunity.
Education of English language is also very important. It should not be ignored. Every educational institution should make English language compulsory subject.
Among the many 401(k) benefits, a major advantage is that money you’ve deposited is absolutely safe from any sort of bankruptcy problems or debt collectors. Even if the firm you are employed in files for insolvency, you need not panic as your contribution is safe. This is because the amount is kept in trust by a different entity altogether and remains untouched.
Government needs to keep its hands off my retirement plans. Look what they did to Social Security. Borrow,borrow, borrow until insolvent! Stay away from my retirement! Your nothing but a bunch of spending addicted morons.