May 21: Taxing Retirement
Windfall tax on retirement income?
Anyone who understands a fiat monetary system, our system, knows most retirement funds lose real value and are not exactly what a persons hopes for at the end of their work life.
Anyone who understands a fiat monetary system, our system, knows most retirement funds lose real value and are not exactly what a persons hopes for at the end of their work life.
Adding a tax to your retirement is simply another way of saying to the American people, you're so stupid that we're going to keep doing this until we drain every cent from you. That's what the speaker of the house is saying.
Madam Speaker Nancy Pelosi wants to put a windfall tax on all stock market profits (including retirement fund, 401Ks and mutual funds! Alas, it is true - all to help the 12 million illegal immigrants and other unemployed minorities.
This woman is frightening. She says, quote: "We need to work toward the goal of equalizing income in our country and at the same time limiting the amount the rich can invest."
When asked how these new tax dollars would be spent, she replied: "We need to raise the standard of living of our poor, unemployed and minorities. For example, we have an estimated 12 million illegal immigrants in our country who need our help along with millions of unemployed minorities.
Stock market windfall profits taxes could go a long way to guarantee these people the standard of living they would like to have as 'Americans.'"
James Brown
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