How much would you need to be able to retire comfortably? If you’re not sure of the answer, don’t worry: the Obama administration will answer for you.
President Obama’s FY 20414 budget will be released on Wednesday — two months later than the legal deadline. But thanks to administration leaks, too conveniently released just hours before last Friday’s horrendous employment report, we have some idea what it will contain.
Most of the Obama budget will be the same tiresome mix of higher taxes, higher spending, and budgetary gimmicks that would land any private sector CFO in jail.
Despite the larger fiscal impact of other provisions of the Obama budget, it is hard to match the audacity, paternalism, and economic idiocy of Obama’s plan to limit individual retirement accounts to a maximum of $3 million.
What we know so far offers more questions than answers; the answers we have already are bad and the questions even worse.
Please read the entirety of my article for the American Spectator here:
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