Obama takes first shot at retirement IRAs

Fellowship of the Minds

It’s long been speculated, at least since 2010, that Obama will go after our pensions and other retirement monies such as Individual Retirement Accounts (IRA). (See my post of Jan. 9, 2010, on Obama’s trial balloon to convert 401(k)s and IRAs into annuities, “Obama, Hands Off My Retirement $.”)

Now that the Eurozone Powers That Be have succeeded in looting up to 80% of “large” bank deposits in Cyprus, the POS is firing his first post-Cyprus shot aimed at our retirement funds. (See also my posts: “U.S. fed-state govts eliminating private pensions & retirement accounts,” Nov. 27, 2012; and “Obama administration taps into federal retirement funds,” May 24, 2011.)

Typical of his and the Left’s modus operandi, the shot is aimed at “wealthy” IRAs, defined as IRAs worth $3 million or more. This, of course, ensures that most Americans — who don’t…

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About Cultural Limits

A resident of Flyover Country, Cultural Limits is a rare creature in American Conservatism - committed to not just small government, Christianity and traditional social roles, but non-profits and high arts and culture. Watching politics, observing human behavior and writing are all long-time interests. CL is a regular contributor to The Constitution Club group blog, and writes on her religious blog, Beyond Sodality, from time to time. In religion, CL is Catholic; in work, the jill of all trades when it comes to fundraising software manipulation and event planning; in play, a classically trained soprano and proud citizen of Cardinal Nation, although, during hockey season, Bleeds Blue. She lives in the Mid-Mississippi River Valley with family and two cute and charming tyrants...make that toy dogs.
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