Tax Guru-Ker$tetter Letter
Thursday, February 18, 2010
Class Warfare's Next Target: 401(k) Savings - Raiding private retirement accounts, either with an upfront tax or as a conversion to government control, has been under consideration by our rulers in DC for a while now; at least since the Clinton years. That huge pool of wealth is simply too tempting for our money and power hungry rulers to resist.
This is also another example of how our rulers have no shame about changing the rules after the fact in regard to retirement plans, as I have explained on countless occasions when warning about Roth IRAs. How can anyone seriously feel safe about Roths remaining tax free for much longer, when our out of control rulers are openly contemplating a full scale confiscation of private retirement funds?