UnThreaded | Threaded | Whole Thread (81) | Ignore Thread Prev | Next
Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 740877  
Subject: Re: Bend over, here it comes Date: 11/29/2012 3:52 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 17
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 nation’s debt problems. We’re about to find out if those fears—persistent for decades—have been justified.

I have believed this ever since I started paying into my firm's retirement plan back in the 70s. The idea that people would be in a lower tax bracket in the future seemed just plain dumb. The idea that Congress wouldn't change the rules whenever they find it expediant is just dumb. There is no place you can go to avoid the grasp of the money-stealers in DC, other than leave the country and renounce citizenship. Given that there is no reasonable place to go that isn't already more screwed up than America makes it dumb to move, so just bend over, because here it comes. I just hope I am allowed to keep enough to live on for the duration of my life, but Obama and the Dems considered retired folk to be unworthy of consideration, so goodbye Medicare (but you must pay the premiums anyway) and goodbye Social Security, and goodbye America. Welcome to ObamaLand.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (81) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Berkshire Hathaway

Burger King's Play Not For Taxes?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement