jump to navigation

We shall see August 31, 2018

Posted by hslu in Congress, Retirement, Taxes.
Tags: , ,
add a comment

But, don’t get your hope up just yet.

However, delay the RMD now might mean a bigger tax bill later in life because a larger withdraw in the future will push you into a higher tax bracket.

My question is this: why is the Trump administration proposing this change at this time for the older Americans in the first place? Delay RMD now will result in a lower tax revenue for the U.S. government when the deficit is projected to hit at least $1 trillion for the current fiscal year and beyond.


Source: Flipboard



Obama will raid our IRA April 7, 2013

Posted by hslu in Obama, Politics, Retirement, Taxes.
Tags: , ,
add a comment

Don’t blink, Obama is going after our IRA’s.

After Cyprus, everything is possible with the most liberal president in the US history. He wants your money to keep the spending going.

In a few days, you’ll find out his plan on our IRAs and with this blog, consider you are forewarned. If the Democrats controls both the Congress and the Senate after 2014 election, we are doomed.

Blacks in general don’t like the rich and they think the society owes them something. Obama, being a black, is leading the charge to raid rich of their money and re-distribute the wealth around. What he has done before was tax the rich and the middle class. With his plan on IRAs, he is reaching for our wealth.

Buffett is willing to pay more income tax because he has a lot of non-taxibile incomes. Asking him what will he do if Obama asks for a portion of his wealth?

Hold on to you IRA and 401(k) February 21, 2010

Posted by hslu in Economics, Politics.
Tags: , , ,
add a comment

Teleprompter Obama: I need your money in your IRA and 401(k) accounts.

Tax Payers: why?

Teleprompter Obama: I am running a big deficits and I can’t close the gap. China is dumping dollar and buying gold instead. No one wants our US dollar.

Tax Payers: I didn’t spend that money. You did.

Teleprompter Obama: I did it for you. I ran up the national debt all because of you.

Teleprompter Obama: I need your money to pay the Chinese, the Japanese, the Taiwanese, the Saudis, the Russians, the Germans and the Brits.

Tax Payers: How much do you want?

Teleprompter Obama: I need all of them.

Tax Payer: Why should I give it to you? I saved all my life for my retirement.

Teleprompter Obama: You don;t need that money now. It sits in an account losing value.

Tax Payers: What do I get in return?

Teleprompter Obama: I’ll give you an IOU now with the full faith backing of me. You can come to my office after your retirement and I’ll give you a check every month.

Tax Payers: How do I know you are going to pay me?

Teleprompter Obama: If you don’t believe me, go the the US Mint in DC. I have the latest presses running 24/365. You’ll get your check for sure. If it is fast enough, I’ll pay them operators over-time working on holidays too. Heck, I’ll have them working on X’mas eve if i have to.

Tax payers: How much do I get each month?

Teleprompter Obama: Hmm, it depends my good friends Pelosi, Reid, your Congressmen, Congresswomen and Senators.I don’t have a plan. I only lead. They follow.

Tax payers: How many checks do I get?

Teleprompter Obama: Until you die. So, try to stay alive as long as you can.

Teleprompter Obama: Hmm, I take that back. The sooner you die the less I have to pay you.

Teleprompter Obama: Yeah, have a Big Mac everyday. Eat more chips. Don’t stop munching on cookies and candies. Buy more cokes too while you’re at it.

Tax Payers: Are you serious?

Teleprompter Obama: As soon as Pelosi and Reid can put a bill on my table. I’ll sign it.

Tax Payers: Is there anything I can do?

Tax Payers: Will my checks worth more than I have now.

Teleprompter Obama: Not if I am in control. I am still the president, am I not? On your second question, I’ll get back to you because it is not on the teleprompter.

Teleprompter Obama: Hmm, you can call Chinese government and ask them keeping buying our dollars. I’ll reduce the value of US dollar and they will lose most of the value of their foreign reserves overnight.

%d bloggers like this: