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  • Rayarena: Yes, I heard “no se puede” and “imposible” too. One time I was trying to get tickets to go to the tower...

  • Rayarena: I’ve been to Turkey. It’s not exactly the richest country in the world, and mind you I went to Istanbul which is...

  • Carlos Eire: Two tendencies govern Spanish culture: intolerance and envy. I heard some character in a Spanish film utter these words back...

  • Rayarena: I agree with you. It’s genetic. By the way, if it wasn’t for the European Union and in particular West Germany,...

  • asombra: Ray, our utterly appalling fuck-up, which was both irrational and unbelievably stupid, may be a hereditary disorder. Spain, who...

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realclearworld

It can never happen here… (a continuing series)

Obama budget to take aim at "wealthy" IRAs:

President Obama’s budget, to be released next week, will limit how much wealthy individuals – like Mitt Romney – can keep in IRAs and other retirement accounts.

The proposal would save around $9 billion over a decade, a senior administration official said, while also bringing more fairness to the tax code.

The senior administration official said that wealthy taxpayers can currently “accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”

Under the plan, a taxpayer’s tax-preferred retirement account, like an IRA, could not finance more than $205,000 per year of retirement – or right around $3 million this year. [...]

They will not rest until everything that is ours is theirs.

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