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Thread: Windfall Tax on Retirement Income

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    Senior Member .44 magnum's Avatar
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    Default Windfall Tax on Retirement Income

    Windfall Tax on Retirement Income

    Adding a tax to your retirement is simply another way of saying to the American people, you're so darn stupid that we're going to keep doing this until we drain every cent from you. Nancy Pelosi wants a Windfall Tax on Retirement Income. In other words tax what you have made by investing toward your retirement. This woman is a nut case! You aren't going to believe this.

    Nancy Pelosi wants to put a Windfall Tax on all stock market profits (including Retirement fund, 401K and Mutual Funds!

    This woman is frightening.

    She quotes...' We need to work toward the goal of equalizing income, (didn't Marx say something like this?), in our country and at the same time limiting the amount the rich can invest.' (I am not rich, are you?)

    When asked how these new tax dollars would be spent, she replied:

    'We need to raise the standard of living of our poor, unemployed and minorities. For example, we have an estimated 12 million illegal immigrants in our country who need our help along with millions of unemployed minorities. Stock market windfall profits taxes could go a long way to guarantee these people the standard of living they would like to have as 'Americans'.'


    (Read that quote again and again and let it sink in.) 'Lower your retirement, give it to others who have not worked as you have for it'.
    I don't think I smell like a brewery. I was drinking Scotch.

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    Senior Member Buzz's Avatar
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    When are you guys going to start checking out the stupid asinine stuff you get of the internet and in chain emails? Of course it's a false story about Pelosi, so you automatically believe the worst.

    http://www.snopes.com/politics/pelosi/windfall.asp

    http://www.factcheck.org/2007/12/not...-windfall-tax/

    http://www.politifact.com/truth-o-me...-stocks-email/
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Quote Originally Posted by Buzz View Post
    When are you guys going to start checking out the stupid asinine stuff you get of the internet and in chain emails? Of course it's a false story about Pelosi, so you automatically believe the worst.

    http://www.snopes.com/politics/pelosi/windfall.asp

    http://www.factcheck.org/2007/12/not...-windfall-tax/

    http://www.politifact.com/truth-o-me...-stocks-email/
    Yes, we should never doubt her again. She was absolutely right to have passed the ACA so we could all find out what's in it, outside of the fog.
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    Senior Member Buzz's Avatar
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    Quote Originally Posted by freezeland View Post
    Yes, we should never doubt her again. She was absolutely right to have passed the ACA so we could all find out what's in it, outside of the fog.
    Nice diversion...
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
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    Quote Originally Posted by freezeland View Post
    Yes, we should never doubt her again. She was absolutely right to have passed the ACA so we could all find out what's in it, outside of the fog.
    Just once I would like to hear "damn that chain e-mail story wasn't true."
    During break time at obedience school, two dogs were talking.
    One said to the other..."The thing I hate about obedience school is you learn ALL this stuff you will never use in the real world."

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    Quote Originally Posted by Buzz View Post
    Nice diversion...
    Thanks
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    Triple J's Hotta Habanera Mo Betta, (Mo)

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    Quote Originally Posted by Buzz View Post
    When are you guys going to start checking out the stupid asinine stuff you get of the internet and in chain emails? Of course it's a false story about Pelosi, so you automatically believe the worst.

    http://www.snopes.com/politics/pelosi/windfall.asp

    http://www.factcheck.org/2007/12/not...-windfall-tax/

    http://www.politifact.com/truth-o-me...-stocks-email/
    come on buzz. Why would anyone believe those liberal fact check and Snopes sites.

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    All of their information is basically based on Teresa Gillarducci congress hearing in 2008. Basically saying it was a joke. Hear her thoughts for yourself and make a decision.

    http://ncrenegade.com/editorial/the-...ann-barnhardt/

    https://www.ricedelman.com/cs/educat...d%20Are%20You?
    Last edited by Dan Storts; 03-03-2014 at 02:02 PM.

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    Senior Member Buzz's Avatar
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    Quote Originally Posted by Dan Storts View Post
    All of their information is basically based on Teresa Gillarducci congress hearing in 2008. Basically saying it was a joke. Hear her thoughts for yourself and make a decision.

    http://ncrenegade.com/editorial/the-...ann-barnhardt/

    https://www.ricedelman.com/cs/educat...d%20Are%20You?
    I listened to her youtube video. I had a hard time staying focused as I was needing to multi-task at the time. I didn't get the part about any windfall tax on retirement income. She did want to impose a mandatory pension system that workers had to contribute to at 5% of income with employers matching 2.5%. She wanted the money managed professionally by money managers at a non-profit with the board appointed by congress and the executive, she didn't get into details about how that worked. They she floated the idea of making tax shelter provided by the contributions be weighted toward lower incomes, reducing the tax deductibility of the contributions by the wealthy, where ever she draws that line, she didn't say. However I did not hear about the windfall profit tax. Like I said, I could have missed it. She seemed kinda batty to me...
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

  10. #10
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    She is batty. However, congress is giving her a platform to push this garbage and eventually more ears will be open because we are 17B in debt. What a better source of cash which can be guaranteed with treasury IOU's just like social security.

    There will basically be a very large take over of 401k's and IRA's when the bond market has its crash. This will likely occur when everything seems real peachy and the economy appears to be rocking and rolling. Not just creating 1-2k per state per month. We currently have almost 11k turning 18 and only 10k turning 65. Thus, 30k in jobs created in a month is break even at best. We are on the downhill side of the baby boomers and the 65 number is getting smaller and smaller every day with the reverse happening to the 18 year olds. We haven't even thrown in the immigrants.

    If you say, "well some of those 18 year olds go to college." Ohio State University, alone, graduates about 10k a year.

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