Monday, May 13, 2013
Now He's After Your 401(k) - WSJ.com
Of course, it may be bluster, a deceptive way to make the budget seem palatable, or even a (look here, not there) distraction.
Whichever, even the thought of government deciding how much of our saved money should be ours is just plain wrong...
The Wall Street Journal recently identified who the President's budget is talking about:
"We're talking about people who work for decades and abstain from buying the bigger house or the new car so they can contribute the maximum to their 401(k)s or IRAs. The people who defer gratification and build a nest egg to avoid becoming a burden on their kids or their fellow taxpayers. The people whose savings finance productive enterprise. You know, the bad guys. Best-selling books used to celebrate these 'millionaires next door' who worked and saved their way to financial independence. But now Mr. Obama wants to treat them as if they all got rich by sheltering investments in the Cayman Islands or extracting bonuses from bailed-out banks or scooping up sweetheart mortgage deals from allegedly nonprofit universities."
