Good News: Feds Look Seriously at Attacking the Deficit. Bad News: They’re Targeting Retirement Accounts.
There are really no depths to which Democrats won’t stoop in order to keep their unconstitutional Ponzi schemes running, are there?
Uncle Sam, in a desperate attempt to fix its $16 trillion-plus deficit, is leering over Americans’ retirement nest egg as its new bailout fund.
Capitol Hill politicians are assessing tax changes that could let the Internal Revenue Service lay claim to a portion of the $18 trillion sitting in 401(k) accounts and other tax breaks used by middle-class workers, including cutting the mortgage tax deduction… as one way to prevent government bankruptcy.
I love the term “tax breaks”, don’t you? As if it’s the government’s money, and not yours.
Besides 401(k)s, other possibilities include the mortgage-interest deduction on second homes, as well as benefits from employer-provided health insurance, which are untaxed now.