It just keeps getting better, so here we go again. Socialists always have an agenda, which is to bring up the downtrodden (a noble effort) at the expense of so-called successful individuals (deplorable). In other words, everybody becomes the same as they are controlled by a select few.
It would appear the president has taken a little time away from the recent actions in Kiev, the near completion of the NCAA men’s basketball season, and of course his weekly golf game, all in an effort to focus his undivided attention on how much money you should have in your retirement account when you decide to hang it up. Socialists, the president included, certainly love to tell us what to eat, what to buy (a Costco flat-screen TV), and how much money we should have.
Regarding his 2015 fiscal budget, sources say the president will recommend putting limitations on 401K and IRA deductions, thereby limiting the amount you can tuck away for the future. The theory goes that the tax preferences will be used to incentivize the low and middle income “folks” who developed a habit of saving for the future. Apparently, under the Obama plan, when deciding whether to pay the utility bill, purchase a flat-screen TV, or tuck it away for the future in their MyRA, the penalty against the rich will encourage the poor folk to forgo the former for the latter. Once again, the so-called experts say it can’t happen and that Congress will never allow it, yet this is the same Congress that swallowed the Democratic proposal of “I’ll gladly pay you Tuesday for a hamburger today.” Indeed, anything and everything is definitely possible with this cast of political characters.
As Obama continues his (maybe?) last term in office, his true socialist/fascist nature keeps coming to the fore. X-Geners, Y-Geners, Boomers, and even the Greatest Generation continue to experience cognitive dissidence in disagreeing with these reduced personal freedoms yet continue to blindly go along. For every action the president takes, including Obamacare, increasing the pressure on Syria, and various executive orders just to name a few, there’s always an opposite reaction. From the allowable size of my soda to the permissible size of my retirement account, it never ends until it is stopped. By the apparent events around the world continuing to make headline news, it would appear the stopping process has officially begun.
Please take note, Mr. President, and you too, congressmen and congresswomen.
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at email@example.com and on Twitter @tatroshow.