3165cropped

We’ll all be working for Obama here soon anyway.
Check it out:

The budget President Barack Obama will submit on April 10 will contain a proposal that would prohibit individuals from accumulating more than $3 million in Individual Retirement Accounts (IRAs) and tax-preferred retirement accounts.

According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals “to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”

“The budget would limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million in 2013,” the statement said. “This proposal would raise $9 billion over 10 years.”

Continue reading on www.breitbart.com

GET MORE STORIES LIKE THIS

IN YOUR INBOX!

Sign up for our daily email and get the stories everyone is talking about.

Email
Previous post

IRS move means more tax dollars for wind power

Next post

Why The Left Embraces Armed Radicals, Mocks Law-Abiding Gun Owners