Feds getting ready to tax retirement accounts

[dan_s]

From Stephen Leeb:

If this is a recovery...

The federal government wouldn’t be piling up unprecedented amounts of debt, trying to keep the economy afloat
State and local governments across America wouldn’t be flat broke, drowning in debt, some declaring bankruptcy
The U.S. government wouldn’t be considering seizing parts of your pension to cover their debt
But they are.

Of course, government will be nice about it. They’ll say they are giving you safe Treasury Bonds in return for confiscating chunks of your wealth.

That way they can finance their debt by giving you ultra-low returns for your hard-earned money.

Hard to believe? Proposals are now being discussed behind closed doors to tax IRA's and other retirement accounts. The Feds are looking at everything they can tax.

[prince_jake_33]

I have been helping my two 50 year old sons and my granddaughter's quest to be an RN. I am far into the 35% tax rate on my IRA. I am paying 3000$ per month income taxes [no state tax in Nevada]. All comes from my taxable IRA. Next year I will pay an additional 35% of the 3000$ Because all of my income is taxable, the taxes I pay are taxable the following year. I was slow to learn this. If more taxes are placed on my IRA, by government employees and elected officials,My situation will be humorous best regards .