Just read this article from Breitbart: http://www.breitbart.com/Big-Government/2013/04/05/Obama-Budget-to-Target-Success-by-Capping-Retirement-Accounts-at-3-Million
This is the line that I got stuck on: "The budget would limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per year in retirement, or about $3 million in 2013," the statement said."
Hmmm...I don't know about you, but that effectively says to me that I'm only allowed to live for 15 years after retirement.
"...the Obama administration believes the current rules allow some wealthy individuals "to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving."
Who gets to say how much money I can save?? Who says it's "substantially more than needed? Why is it ANY of their #$^@#$ business??
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