“Obama’s budget plan … would prohibit taxpayers from accumulating more than $3 million in an individual retirement account. That proposal would generate $9 billion in revenue for the Treasury over the next decade, according to a White House statement …”
“’Under current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving,’ the statement said.”
http://www.businessweek.com/news/2013-04-05/obama-budget-calls-for-cap-on-romney-sized-iras
(So the government – White House – will decide how much you need … Wait! Wait! From each according to his ability, to each according to his need?)
Link from www.poorrichardsnews.com
through www.gatesofvienna.net
In the same neighborhood:
“French central bank governor Christian Noyer said on Wednesday that France should freeze pensions, civil servant salaries and social benefits to save €40 billion by 2014 as it tries to cut a swollen public deficit and jumpstart growth.”
http://www.thelocal.fr/page/view/freeze-pensions-and-benefits-french-bank-chief
Also gatesofvienna.
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