armstrongeconomics.com / by Martin Armstrong / June 8, 2015
Obama’s polls show he is now enjoys the status of a lower approval rating than George Bush, Jr. and that is really saying something. Obama is clearly a Marxist and he buys into the problem is people are saving too much and is using this to justify entertaining placing a cap on how much you’re allowed to contribute to your retirement plan. Additionally, he is considering adding a 10% or so tax on your 410(k) or IRA account. Then he believes you should not be allowed to leave your children anything unless you are a politician who can be bribed by redirecting payments directly to their family members to avoid inheritance and accountability. He is also considering a provision that would require you to empty your inherited retirement account in 5 years or less in many circumstances.