His Plan: If Only He Could Get At Our Bank Accounts! - Obama budget to take aim at wealthy IRAs

Fascist-Communist thinking Obama has Cypress Banks envy! His devious eyes are on thieving the assets of the citizens in order to continue his devolving of America. Watch out for your 401Ks. m/r

Obama budget to take aim at wealthy IRAs - The Hill's On The Money
By Bernie Becker - 04/05/13

Obama’s budget, to be released next week, will limit how much wealthy individuals – like Mitt Romney – can keep in IRAs and other retirement accounts.

The proposal would save around $9 billion over a decade, a senior administration official said, while also bringing more fairness to the tax code.

The senior administration official said that wealthy taxpayers can currently “accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”

Under the plan, a taxpayer’s tax-preferred retirement account, like an IRA, could not finance more than $205,000 per year of retirement – or right around $3 million this year.

The report is extremely bias:
Read more: http://thehill.com/blogs/on-the-money/domestic-taxes/292071-obama-budget-to-target-wealthy-iras#ixzz2PhN8RCxc 
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