Quantcast

Obama Seeks to Cap Retirement Accounts… His Plan is to Limit How Much You Can Save

If you want to know what Marxism looks like, look no further than President Obama’s latest plan for your retirement account.
He’s trying to pull this one off by hiding it behind the concept of “Revenue Generation” however, don’t be fooled. It is Marxism. He wants to decide how much YOU need can save for retirement.
President Obama wants to make sure that you don’t save “more than you need,” and his budget proposal includes steps that would limit the amount of money Americans can have in their retirement accounts.

According to Bloomberg Businessweek, President Obama’s budget proposal would cap multimillion-dollar tax-favored retirement accounts like the one held by Mitt Romney, his Republican rival in 2012.

Obama’s budget plan, to be unveiled tomorrow, 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.

Of course, this cap rule would not apply to Obama since his retirement will be funded by us… the taxpayers, which, by the way, includes multi millions of dollars in benefits.

Posting Policy
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.
  • George

    He better start with his own which is worth about $12 million.

    • Evermyrtle

      Right when he came to this to the USA he was broke, so where did he get this money???

      • Well, he received a large sum of money for two books that he wrote (or at least his name is on those books as the author), $1 million from the Nobel Peace Prize, and a wonky land deal in Chicago that netted him another rather large sum of money. I still want to know how a broke kid from Hawaii can afford to attend Columbia and Harvard (long before he wrote those two books). I had a hell of a time paying for the college and university I attended working during the day and going to school at night.

      • Dave G

        You might wan to think about something. Obama frequented men’s clubs for quite some time. I wondered where he got all his money too. He might have done things that would be considered unnatural. I could not think about anybody giving him money for doing nothing. It was rumored he liked older, rich white men.

        • Schr0dingersD0g

          If you’re suggesting he was going around giving blow jobs think about this… It’s been reported Muslims don’t like to put pork in their mouths!

    • dndvaughn

      OH no, he is the president, he is above the law !! Hoping for assassination…I won’t do it, but I will donate to the guys Lawyer fees !.

  • George

    Next he will be telling us how much we can earn.

    • That’s on his ‘wish list’. He ‘puts his controlling, communist plans out there’ and see if he can get away with it.

  • Oncdon

    Does this really surprise anyone when based on his past behavior? I can predict that he will next he will begin taxing all of the gains from Roth accounts of the middle class which is expressly what the investors supposed to avoid by investing in Roths to begin with. What will it take for the American people to stand up to this destroyer?

    • Joe Lettieri

      A revolution !

    • It’s almost over

      It won’t happen. They’re now more takers then givers. The Dems aren’t only sneaky they’re also very conning!

    • OH, I AM SURE THAT ROMNEY AND THE OTHER POLITICIANS WILL BE EXEMPT FROM THIS LAW AS WELL.

      • OH, AND ALL THE EXECUTIVE CEO AND COMPANY PRESIDENTS WILL BE EXEMPT FROM THESE LAWS. OH, AND THE BANKSTERS WILL BE EXEMPT FROM THIS LAW.

    • Been saying this for years….

  • John

    Obviously Emboldened by the Cypriot Government’s cash confiscation… In Obastard’s mind, what’s good for Europe is Good For The United States!

  • It’s spelled Marxism. Sorry…I’m picky that way.

    • Rattlerjake

      Who in the he!! are you correcting?

  • Schr0dingersD0g

    YOU RACIST NEOCONS… there’s no way a person who retires near the age of 60 needs more than $3 million dollars to live out the rest of their days. It’s an obscene amount of money and chances are the individual that accumulated it did so climbing on the backs of their “blue collar” employees. Its about time this courageous and loving man took on the entitled wealthy society that stole their millions from the common man. And I’m sure to set the example he’ll surrender and donate all the wealth he’s amassed up and above the $3 million dollar limit before he retires!

    Yeah, right! Hahahahahhahaaaaa…. How the hell can you libs think like this? For the sake of empathizing with my fellow liberal American’s I thought I’d take the pro position on this debate. Of course to do so I had to suspend ALL rational thought. This is America, if you want to live like a communist go to China or Cuba and retire there… otherwise, shut the _____ up and join the rest of us and kick this sick bastard out of office! Wealth distribution is theft! The government doesn’t produce anything, it consumes everything. And the douchebags that write these stupid laws are not bound by them…

    • Interesting way of stating the facts. Thank you

    • Zepp

      You’re an ignorant Marxist

      • Schr0dingersD0g

        And you can’t read douchebag!

        • Zepp

          My bad. I didn’t see the rest of it. I didn’t even think it posted so you don’t have to call me a douchebag. Your whole post didn’t show up when I first read it.

          • Schr0dingersD0g

            No problem man, I like the word douchebag.

          • Zepp

            Unfortunately on an iphone the whole post you wrote doesn’t show up. There’s some very small print that says read more at the bottom. Don’t go to hard on someone who doesn’t see it.

          • Schr0dingersD0g

            Sorry, would you like me to kiss your booboo?

          • Zepp

            Nope. I was trying to be nice, but it’s clear you’re just a jerk.

          • Schr0dingersD0g

            So calling someone an ignorant Marxist is your way of being nice? K

          • Zepp

            I apologized. It’s quite obvious you can’t accept an apology without making snide comments. God bless you and have a good night.

          • Schr0dingersD0g

            You’re right and I’m sorry, just feeling snarky tonight. Have a great night my friend, and remember… Jesus loves you!

          • Zepp

            No worries. I think we’re both on the same side here.

          • HappyClinger

            Women do not use those anymore. They’re passe.

      • crofootski

        Zepp, read the entire post.

      • rakers

        You need to read the rest of that statement.

      • Kindly read the rest of the story

    • Sorry for a moment I thought you had lost your mind. by the by have you seen my cat??:)

      • Schr0dingersD0g

        I ate the cat;-)

        • And I really liked that cat 🙁 (LOL)

    • Ron

      keep listening and watching Obama to see what he wants to do with country,he hates this country and all it stands for,we have some worrysome times ahead of us

      • Schr0dingersD0g

        This country has a date with destiny, actually, it’s on a collision course with destiny. The two party system is an illusion, and the sick and evil puppet masters want your soul!

        • You have to have a soul,something neither you nor the extremists have and Never will!

          When was the last time YOU took a $4 million vacation?,wore a $3,000 suit?,took $3000 an hour golf lessons and lived on a yearly budget of over $1 million a year?

          Your hypocrite,criminal thug of a leader and his Czars,his kids,his partners in crime do!

          Go somewhere else!

          • Schr0dingersD0g

            Another one that didn’t read the whole post… Oh we’ll, this is how these worthless turds end up in office time after time after time… Nobody reads anymore.

          • It’s almost over

            Yeah, I don’t think Peter understood your post…but most of us did. You win them all. Good post D0g!

          • Schr0dingersD0g

            We are approaching a critical point in this country. It has reached that point where we can no longer agree to disagree but maintain civility. We can’t talk anymore, or what’s worse we believe everything we see, hear and read without doing any digging of our own. A complicit press and an ill informed electorate has installed a tyrannous dictator, our only saving grace may be a revolution, and because we can’t talk to each other it’s likely to be very bloody. The two party system is broken, and the only people that can fix it are nearly perfectly divided and refuse to speak with civility to one another. I know my OP was sarcastic, but really??? How on earth can anyone justify half of the things this guy has done in the last 4 years??? He is Bush’s third and fourth terms!

          • Magnum05

            I guess I didn’t read the whole post either, but instead, thought the second part was an answer to your first. I apologize.

          • You really should read the whole post. It is obvious you didn’t make it past the first paragraph.

      • edc

        B h o’baal (god of child sacrifice) doesn’t have to save for anything, we (taxpayers) are paying for him and his friends and relatives now and after he’s gone. If he is not arrested and tried for treason, we will continue to pay for a long time.

    • Clever ruse my friend, you do know many will for no other reason assume based on your photo. I like to judge the book on content not assumption. Being a half breed Cherokee/white made it hard to be seen as something of value and being an adopted bastard didn’t help. I learned the best thing I could do was prove those who thought me less wrong. Haven’t looked back since and wish more would find that respect in themselves like you and I both have. Have fun.

    • nomidazolam

      You are funny Mr. D0g! You have a picture of a black man, but you write white. I like it! I have a hard time believing that some people didn’t get the heavy sarcasm in your first paragraph. “Climbing on the backs of their “blue collar” employees.” ROFL! Then to follow it with “courageous and loving man” OMG, you are hysterical. Keep it up!

      • nomidazolam

        Oh yeah and before anybody gets all insulted by my “write white” comment, this is what black folks say when a black man is literate. You’ve heard it before, don’t lie!

      • Schr0dingersD0g

        Believe it or not that’s a black woman… And thank you for the kind words. Getting into the head of a liberal is a very scary thing… In the two minutes it took me to write that first part I applied for food stamps, registered as a democrat, and married my lesbian neighbor.

        • hahahahahahaha

        • nomidazolam

          Sorry about the gender bender! It’s hard to see a thumbnail when it’s a 1/4 inch square!

      • How do you “write white?” Just because the poster shows some sense doesn’t give any indication of race, religion, or any other “special” designation.

        • nomidazolam

          I think I explained that… I knew that somebody would get all upset-like. Aren’t we just ever so sensitive? What color am *I*?

    • Wait a minute. Why would you think that it’s alright to just take what somebody earned and give it to somebody else that did not earn it? That’s stealing. It also takes away any incentive to do a good job. Why do you think that it’s alright to do any of that?

      • Schr0dingersD0g

        I don’t, read the whole post, click the “see more” button and read the rest.

    • vangoatee

      No society ever thrived because it had a large and growing class of parasites living off those who produce. — Thomas Sowell

      • Schr0dingersD0g

        Sowell never met Obama. (Written from my new ObamaSmartPhone)

      • reggiec

        “The budget should be balanced, the treasury should be refilled, public debt should be reduced, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” — Cicero, 55 BC

        • Cicero made this statement: “The arrogance of officialdom should be tempered and controlled, and assistance to foreign lands should be curtailed, lest Rome fall.”

          He was an isolationist that wanted to allow the welfare provinces of the Roman Empire to fend for themselves and possibly fall, so that citizens of the inner empire could live higher on the hog. Which states do you propose kicking out of the union to save money?

          He did have one thing right however and that is that officialdom was a problem.

          • pghiii

            Not the states .. other countries that we’re propping up, one way or another. (Although that doesn’t even seem to work well lately, does it ?)

    • randy

      Mother F****r ! Who the hell are YOU to tell ME what I need or don’t need. You and all you racist looneys can kiss my poor white ASS !!!!!!!!!

      • randy

        That was directed at our liar in cheif by the way

    • violater1

      Damn man I am glad I read through to completion of your post! It was at the beginning pissing me off so bad I almost unleashed my wrath of hell in your direction! Well done what are you a former libterd or just good at playing the devils advocate!

      • Schr0dingersD0g

        I encourage everyone to step back for a moment and consider both sides of the argument. The only reason I say that is because I’ve never learned anything from someone that always agreed with me. And considering how many times I’ve been wrong its worth exploring.

        What I discovered in this exercise was you really have to have a fundamental screw loose to think stealing from one person and giving it to another is a logical solution to poverty in a free society. I’ve noticed when it comes to giving… the libs are pretty generous, when its someone else’s money.

    • HappyClinger

      Didn’t their mamas ever tell them not to pay attention to what everyone else has, just be happy with what they have? Evidently they didn’t listen because this is pure evil envy. That’s why there’s a commandment against coveting thy neighbor’s house.

    • Obamasucks

      Unfortunately Mr Dog you know nothing of cost of living changes. Who wants to love off of only Social Security retirement and it mainly gives you only less then 30,000 to retire.
      Sincerely,
      A non neocon

      • Schr0dingersD0g

        Read the whole post dude…

    • Is that really your picture, looks like Obama’s illegal uncle?
      Either way, quite witty and you got me for a moment there!

  • Who died and made bo GOD to decide HOW MUCH MONEY someone can save. As usual – his egocentric, arrogant, controlling nature reveals himself.

  • Evermyrtle

    instead of saving you are supposed to give it to him!!! I did not realized until now that people could not be born that stupid, they have to grow more stupid as they grow up. That had to be what happened to him.The stupidest that you can be when born is brainless!!

    • dndvaughn

      Yes, and as usual, the Democrat voters think he is ‘so handsome, and so smart. Yet, I want to know where his College Records are, (if he has any), and also the so called IQ test that says his is over 140 ! How can people believe this chucklehead when he won’t show any documentation !! People want to impeach him. That won’t do much good, unless he’s sentenced to a Firing Squad 2 hours after found guilty !

      • crofootski

        And do you really think the Senate would find him guilty, much less even prosecute him.

    • Chicot

      Sorry but the A$$ HOLE is not stupid, he is getting what he wants and there is no one with the nuts or brains to stop him. The man should never have been nominated for the position but he has always been a community organizer and that is what the people who are directing him needed and one who is black, smooth reader of prompters and smart enough to act out the part he is in. No he is not stupid, but has over 50% of the people in the country wraped around his finger and now look around they are the stupid ones.

  • Zepp

    Look out. There’s someone accusing all the white people of being racist because we don’t agree with Obama. By the way schrodingersdog, it’s none of your business or obamas business how much money someone should be allowed to save. You’re a perfect example of a Marxist.

    • crofootski

      Zepp, read schrodingersdog’s entire post. I think you read only the beginning and wrote him/her off as a marxist.

      • Zepp

        I didn’t see the last part. I can admit when I’m wrong. Too bad schrodingersdog can’t accept an apology like a man.

  • Whatever comes of this latest folley, rest assured that the super wealthy and the politicians on both sides of the aisle will exempt themselves. These Socialist ideas are set forth for the rest of us while the country is on the road to final Communism. Don’t believe me, read up on Marx.
    The upper middle class, the middle class, and the less fortunate. Politicians will never pen legislation that will take a dime from them. Soros will continue to run the traditional media with his billions and politicians will continue to amass wealth from your taxes.

  • SFS444

    I don’t agree with Obama or like him, I guess I am racist, oh well. I also think he’s an illegal african born citizen and not eligible for the seat he currently occupies, illegaly…how do you like those apples? I really don’t care what liberals think because I think they are mistakes that should have been flushed down the toilet.

  • MrLogical

    Someone at JM Media needs to explain what Marksism is. A new political philosophy?
    Or, did you mean Marxism?
    Does anyone proofread this stuff?

  • billygeturgun

    What business is it of nobama’s how much money anyone has in their retirement account or any other account? Unless there is some evidence of the money being gained by ill means, it is no one’s business, especially the kenyan’s. Unfortunately, just like most other legislation, certain elected leaders and rich folks with lobbyists will be exempt from any rule like this. When are Americans going to wake up and see the muslim for what he is? He is a traitor, plain and simple.

  • silvermoney

    This guy does not act or think like a true blood american. I do not relate to him in the least and he would be better off as a vice president of some 3rd would country in africa. I can’t wait till a few more years pass and he is out of office. This guy is a one man wreaking ball. Has no clue about money and business and I’m sick of his lying speeches.

  • crofootski

    Ah, it surely has been refreshing hearing the late (RIP, Iron Lady) Margaret Thatcher’s arguments against socialism. It’s all still relevant.

  • MrLogical

    This is how it starts with these Fabian Marxists (incrementalists): They start with a very small percentage affecting a relatively small population – i.e. “The Rich.” Then, once the precedent is established, they lower the threshold over time to ensnare an ever larger portion of the population, while also increasing the tax rate. It’s $3M now, then $1M, then $500k, then $300k… it never ends.

    This is how the income tax started, and look where we are now. There isn’t enough money to pay for all of the socialist redistribution that Obama and his Marxist puppet masters want to achieve. The only way they can pay for all of these socialist programs is to tax the middle class, and tax them heavily.

    Remember in 2014: NO MORE DEMOCRATS.
    .

    .

    • Dave G

      Hello Mr. Logic. I agree with what you are saying but the Democrats are a necessary evil. Now don’t fly all over me just yet.
      I remember when the Republicans were in total control, they had the house and the senate. They were seemingly drunk with power and control. They spent like crazy and I thought they had distanced themselves from the citizenry of this country.
      Then came a vote and the Democrats were the ones that had controlling power,,,and they did the same thing the Republicans did, drunk with power and spent like there was no tomorrow.
      I wish we could have a single governing body but I don’t think it would work. Each party has to have the threat of defeat hanging over their heads. However if we did have a single governing body we could still have a voting presence but then we would end up with a tug of war taking place which might create another split and then we would be back to two parties again.

      The only real way I could see any success in a single governing body is to have The Lord come back and set up his kingdom.

      Take care and God Bless.

      • Steve

        Some Republicans are Big Government Republicans, they just want big government is different areas and the libs. Under GW we saw Big Government Republicans at work. I don’t know if we’ll ever get back to the Conservative sweep we had in ’94. To bad Newt is such a schmuck, because he’s a schmuck with the right political ideas.

  • Steve

    Here’s a crazy idea. How about you stop using the tax code to try and control me and my behavior. Get rid of tax advantaged accounts, and tax advantaged everything, and just lower my taxes. If I make money, no matter how I make it, I should pay taxes. Everyone should pay taxes, rich and poor alike.

    This isn’t a cap on savings, yet. It’s just a limit on the tax advantaged savings. What’s scarier is the idea some libs have of “buying” our retirement accounts with the threat of force, and then paying us an interest rate of their choice.

  • this blackman is so anti-American he STINKS !!!!!!!!

  • pikemaster1

    Wow I’m in trouble ! If I live another 250 or so years I’ll have to hide all my excess money from the muslim in charge at that time ? Probably cost $1000.00 to fill up my tank on my car by then?

  • Laird

    I hope that “Marksism” is just a play on words because it is actually “Marxism”. Maybe I missed the joke.

  • Lowell

    People that know how to earn over three million dollars know how to hide it somewhere other than the American economy if Obama pushes for savings limits.

  • Ron

    I have just read a quote from Thomas Jefferson,I hope I don’t have to explain who he was,”The strongest reason for the people to retain the right to keep and bear arms is,as a last resort.to protect themselves against tyranny in government.How close is that to what is going on now in this country,another of his quotes is,”The beauty of the second amendment is that it will not be needed until they try and take it.” Pass this on and give these words some serious thought. God Bless America

  • Folks, before we go completely out of bounds, remember this: he is only talking about our tax deferred Individual Retirement Accounts and 401K’s, etc. We can still accumulate money in other accounts as we deem fit for our retirement. Still, this should be the point at which we all decide that the tax code has to be abolished and replaced with something simple but effective. If all of our retirement money is saved from our income, and we no longer have an income tax, then we can save a great deal of money and not have to worry about any such limitations imposed on us by our fearless leader who has plenty of money in the bank, and a $400K per year retirement complete with full medical and dental benefits at the expense of the United States taxpayers for the REST OF HIS LIFE.

  • Bomephus

    Newbie confusion here: Aren’t our tax-free/deferred contributions to our retirement funds limited to $1700/year? So someone would have to score a huge roi with their savings to to amass $3m in it? If there is a way to get more $$ into one, how many people would this policy really affect to produce the revenue he’s claiming?

    • Chicot

      Wake up that is his starting point. Before it’s over and on the books it will be down to $250,000 dollars like that was his cut off point for raising taxes and look what happened to that BS…ask anyone who works if they still pay the same tax they did last year…LOL.

  • Joe Lettieri

    OUR GOVERNMENT;), Democrats are insane,and incredibly stupid,Republicans are incredibly stupid,old cowards.ITS OVER !!!!!!!!!!!

  • Put your head back in the sand…. or continue watching your regularly scheduled reality tv episodes…. your government loves you and would never do anything to harm you…

  • JJM123

    Assuming that a $3 Million retirement account keeps even with inflation, it would provide $86,000 per year for 35 years. Or if you retire at 60 and live 40 years = $75,000 per year. Yes, that would be enough for me ASSUMING we are not hit by Dollar Devaluation and resultant HYPERINFLATION. Whatever – only half of my savings are in the market or in US Dollars.
    So instead of Saving, where the money is invested in the markets, we are supposed to spend on junk probably built in foreign lands?
    $9 Billion in revenue in 10 years? Why not just cut excessive $1+ Trillion per YEAR excessive spending and get pro-business? The plan does not solve the MAJOR problem but does invade our personal choices for independence even more.

  • Nuts

    If It is OK for him to set rules for me why not let me set rules for him. I say he don’t need anymore than $30000.00. How about that?

  • You racist P.O.S. No one,not you,not Obama,not Holder,not you anti-American excretion!
    will ever take my humanity,my dignity,my honor,my country while I am alive!

    America was built by “legal” immigrants who knew you,knew you Socialists,know you takers,you tyrants,the tyranny you bring to steal from others hard work,to want what others have earned,to “covet” what others have!

    I have seen the tattoos,my family lived under your “sick”,perverted” ideas,America was founded in opposition to you. This was a Constitutional Republic where people asked for nothing,took nothing but the Freedom,the Opportunity,the “responsibility for who they were and who they would become!

    I don’t have Obama’s definition of wealth,I probably never will. I don’t worship money and surely don’t respect a narcissist,a megalomaniac,a tyrant of any color/ethnicity who would dictate my rights,my life,the lives of my family,my friends who would eviscerate the Constitution,take my inalienable rights,take my Freedom,my property,the present and the future of myself or my kids.

    Millions of “legal” immigrants risked everything,asked for nothing to embrace the American Dream turned nightmare,to “live free or die”.

    They worked,they worked harder,they succeeded and they failed but,in the end they fought to protect this way of life because for most,it worked!

    You are mt ideological enemy! You would dictate to me?

    No way pervert! Leave this country,you don’t belong here,you are the very same P.O.S.,we thought we would Never have to deal with again!

    “Never again” butt hole!

  • Life , Liberty ,and the pursuit of happiness . Old school !

  • broke in TX

    I’m 51, unemployed because of a bad back, broke, and unable to find a job I can physically perform. All I own are my guns, and my pickup truck, and have a roof over my head and food in my belly because of the generosity of my relatives. I have worked all my life, but my retirement money went to medical bills, and now, I can’t even afford a doctor or medical insurance. I was refused SS disability benefits, so I’m not costing any of you a penny. Where is my entitlement? I hate the current administration, support the Second Amendment and the rest of the Constitution. But I don’t give a rat’s ass about the retirement accounts of the rich, I got nothing but my faith in God, and lately that’s getting hard to hang on to. And I get an email from this site, wanting me to PAY to send a fax to congress to stand up for our rights. And will not let me send it with out a “Donation”. It’s starting to look like both sides are equally bad, because a lot the anti-obama bunch seem to be getting rich off of this too. Like Jan Morgan Media. Screw all of you.

  • PB

    Yes, I do wonder if Prez O will give up HIS retirement? Or how about Nancy Pelosi? What about Al Gore? And yes, any rich Republican? This may be Obama’s sickest idea yet, but time will tell.

  • PATROITGIRL

    EVERY DOLLAR my family has saved IS OURS….. NO ONE “earned: it for us”….. and why is THREE MILLION dollars excessive???????……Just TRY to take what we have saved and give it to some LOW LIFE WELFARE RAT.. or worse… AN ILLEGAL ALIEN a/k/a CRIMINAL… and see how far you get with MY MONEY!!!!!…….. I DARE ‘YA!

  • red8840

    Who care how much anyone saves!!! It is their own personal business, NOT the governments!!! It is what they are earning by working, their money between them and the company that they work for!!! I wish Obama would stay out of people’s personal business!!

  • Bill1966

    If you actually READ bam bam care you will see that he had already planned on taking your retirement funds. bam bam care gives the government the right to just take money from any and all of your accounts whenever they deem it necessary to do so. Gonna be hard for them to take anything from me though, I TRIED to open my own business as I was unable to secure an SBA loan. Keep in mind, I am the one thing bam bam hates most, an American born European ancestry male who served his country voluntarily.

  • horseridingplains

    How does a rational thinking American possibly believe that this can be OK?? We are angry at all of the intrusive Marxist pushing into our lives–yet somehow we cannot unite as a group to effectively do something about it–we write petitions and/or e-mails that are ignored–, are we able to effectively march either locally or in Washington–what has happened to us??

  • OK Lets be real here: 1. If I should ever even come close to three million it would only because inflation has gone wild. So really should I care that some pompos jack a$$ is going to tell me how much I can save? YOU ARE GD Right I am because it is none of his GD Business how much I do or do not save. It isn’t his right to tell me if I can have a gun or what type of gun in fact he is in violation of the Constitution in doing so. So if he wants a fight he has it.

  • Hohli21

    I thought living in America was being able to go as high as you wanted to go and as far as you wanted go! I don’t understand why some of you are saying this is wrong! Who are you to decide how much money someone should have?? If you want the government to tell you how much money you should make then maybe you need to look into living in a communist country! There are people out there that worked really really hard to live the American dream ( I am one of them) and you’re telling me that this is not right and that I make to much money? You’re sick and you’re jealous , go live somewhere else!

  • HappyClinger

    Don’t worry about what Obama’s retirement will cost us – Obama doesn’t plan to retire.

  • Terry C

    If I earned 15 million a year and I choose to put 8 million a year into a retirement fund, that’s my business. It is none of Obama’s or anyone else’s business what I do with money that I have worked hard to accumulate. As long as I have paid the taxes I legallly owe on whatever amount I earn, the rest is mine to do with as I choose. I am not like Obama, tho. I don’t make enuff to “give” each child a $47,000 gift to reduce my tax liabilities. By the way, Obama, did the girls file their tax returns? Have they paid the taxes on the interest that money has accumulated?

  • Magnum05

    SchrOdingersDOg: May the bird of paradise, fly up your nose, may an elephant caress your weary toes, may your life be plagued with runners in your hose. Just because you have not made a lot of money & can’t retire except for Government freebees, is no reason why your loving Communist, Muslim has the right to take money away from people who earned it. I suspect that you are the one who is RACIST!!!

  • MikeS

    So, now, instead of deciding for myself what is reasonable for my retirement, the likes of oblaima will decide for me. What a greedy, insincere, self serving, un-American politician.

  • Real American

    Does that fking 1/2breed muslin illegal actually thin k he will get away capping retirement accts???? The SOB is a marxist commie to the core, get rid of the bastard. Just take and cap the retirement accounts of the wealthy libtard bastards who voted for him..only the libs who gave him their vote nail them & share the money w/ the braindead wallstreet protesters,start with the commie soros and all the hollywood libtards!!

  • Just who does this Obamanayshon think he is god? Who is he to say that anyone cannot save more than 3 mil for their retirement days? Get on the stick people or WE as a Nation will see communism and socialism devour this nation and WE will become what Russia was under Lenin. ARE YOU READY to GIVE IN TO THESE TRAiTORS TO AMERICA and ITS CITIZENS?

  • Randy131

    Obama has already made us buy health insurance against or will, and now he’s forcing us to only save, for our eventual retirement, what he will allow. What’s next in which Obama will take control of our lives with his commands and demands over our personal decisions, which now he has made the government’s authority to decide for us all. I hope the next government demand of Obama’s will affect his liberal useful idiots as much as it has us freedom loving and remorseful Americans. How much further will American patriots allow Obama and the Democrats to go when usurping our previous rights and freedoms before they understand that these culprits are promoting government tyranny over it’s citizens, and exactly what the ‘Founding Fathers’ warned us about and provided the 2nd Amendment as a tool to intercede in the governments destruction of our rights, freedoms, and personal choices in our pursuit for happines? When is enough more than enough?

  • michael c

    That means that 3 million at 5% earns a year would generate retirement income of $150,000. the pres retirement is 450,000 FOR LIFE will be reduced to $ 150,000, and all the other wealth he accumulated will be turned over to the people???

  • How about capping all politicians retirements. No lifetime pay after one term in office, no lifetime perks that any taxpayer doesn’t get.

  • No Secret Service protection on retirement, let them get a concealed weapon permit, no ammo though, they might hurt someone.

  • Craig

    What happens when Obama’s multi-millionaire athlete and actor friends find out what he has in store for them? Oh . . . I forgot–there will be exceptions for them; after all, isn’t that what the 2,000 pages of the IRC are all about???

  • pghiii

    Apologies if this point has been made by someone, but .. how is it supposed to work when people are being coerced into earlier retirement, and, um, encouraged to switch to funding and managing their own retirement accounts … but we want to raise the SS retirement age, and limit what they can save ? Mm, OK, I guess that’ll all work out somehow. Can we quit posturing around single-faceted changes and talk about how all the programs and policies might actually work towards the same ends ? (Knocking everyone except the politically elite into the lower economic classes and controlling them through government largesse is off the table.) I propose that anything that works will include ways of enabling ‘older’ workers to stay in the work force through contracting, entrepreneurship, training, etc. .. and let’s not hear from employers who complain that they can’t find qualified people, as if someone else should magically produce them.