Solution To The $2.7 Million 401K Limit. Have A Second 401 And Swiss Bank Account.

[OldUSAFSniper]

Actually, if you go to your bank and inquire about overseas accounts and about putting money where the federal government can't get to it, I'll bet that you will be surprised to learn that most banks now have people who specialize in exactly that sort of thing.

I am almost at the point where I am going to sell my ranch. I have to do it very soon, because in 2014 I will have to pay a tax for Obamacare in addition to all of the other taxes. I think that I was told it was an additional 3%. Since I'm getting older, I want to put the money somewhere that I can actually do with it what I want (yeah, I know, such a concept - FREEDOM). So, I went to my bank and very quietly inquired and found a young lady who has been literally SWAMPED with work of this nature. She also advised that a number of retirees are not only putting their money into either Swiss or Caymen Island accounts but are also moving to places like Belize. I chose Swiss because they've been doing it the longest. Apparently, if you want to go that far, you can have dual citizenships in these countries. Not sure about doing that yet, but I moved my 401K overseas and about 95% of what I had in other accounts.

You know, I would say that there is a lesson in this sort of thing, but liberals won't learn it. It's like when Clinton taxed the living heck out of yachts. Those with means went to Europe to buy them and the boat yards here dried up so much that the unions began to scream bloody murder. But we all know that would be 'trickle down', so we can't buy that for a second.

 

[OohPooPahDoo]

It only matters if you care whether people think you're a hypocrite. Obviously you and Obama don't care.

For someone to be hypocritical they have to actually do something hypocritical. They don't become a hypocrite just because you don't like them.

Not sending every dollar over the $2.7 million Obama says is all people need to the government is acting hypocritical.

Right, except Obama didn't say that all people need is $2.7 million.

 

[OohPooPahDoo]

Wouldn't anyone assume that this is what is likely to happen with multi-millionaires with a hefty 401k? Move their money around? Or maybe open a 401K for their kid or kids?

Although the legislature wont pass the House, how do the Rats expect these millionaires to pay their enormous taxes if they "Take Away Their Millions" ???

Does the law allow that?

You are worried about laws? US immigration laws are not adhered to. People break those laws on a daily basis and they are rewarded. As Hillary would say, what difference does it make?

FOr some reason I thought we were talking about taxes.

 

[OohPooPahDoo]

I am almost at the point where I am going to sell my ranch. I have to do it very soon, because in 2014 I will have to pay a tax for Obamacare in addition to all of the other taxes. I think that I was told it was an additional 3%. Since I'm getting older

Since you're getting older, maybe you should buy health insurance instead of paying the penalty. Just a thought.

 

[Katzndogz]

The answer for those who think that at some point someone has made enough money is for the person making that money to get to the magic number and stop. He or she has earned all the money the government will permit so there is no need to keep working, keep inventing, keep researching, keep doing anything. Just stop. Close the factory, fire all the employees, stop making more money.

 

[OohPooPahDoo]

The answer for those who think that at some point someone has made enough money is for the person making that money to get to the magic number and stop. He or she has earned all the money the government will permit so there is no need to keep working, keep inventing, keep researching, keep doing anything. Just stop. Close the factory, fire all the employees, stop making more money.

What's the answer for people who think the American way is to earn as much as you can and want to?

 

[bripat9643]

For someone to be hypocritical they have to actually do something hypocritical. They don't become a hypocrite just because you don't like them.

Not sending every dollar over the $2.7 million Obama says is all people need to the government is acting hypocritical.

Right, except Obama didn't say that all people need is $2.7 million.

That's what his budget says.

 

[OohPooPahDoo]

Not sending every dollar over the $2.7 million Obama says is all people need to the government is acting hypocritical.

Right, except Obama didn't say that all people need is $2.7 million.

That's what his budget says.

Right, except his budget doesn't say that.

 

[TheSeventhTiger]

the "There comes a time when u have made enough money" only applies to rich white people and slave owners in the deep red south. (well according to Biden the Clown who thinks slaves are still picking cotton)

 

[OohPooPahDoo]

the "There comes a time when u have made enough money" only applies to rich white people and slave owners in the deep red south. (well according to Biden the Clown who thinks slaves are still picking cotton)

What exactly have you been whining about?

 

[rdean]

Wouldn't anyone assume that this is what is likely to happen with multi-millionaires with a hefty 401k? Move their money around? Or maybe open a 401K for their kid or kids?

Although the legislature wont pass the House, how do the Rats expect these millionaires to pay their enormous taxes if they "Take Away Their Millions" ???

Why do you care? You don't have any money.

Under Eisenhower, the tax rate on the wealthiest Americans was 90% and they still got rich.

History is so easy to find. Too bad right wingers are against learning "facts".

 

[KnobbyWalsh]

The 401k was written into the tax code in 1978, slid in by a congressman looking for a way to shelter his rich buddies savings from taxes. Once corporations and businesses found that offering participation in a 401k was cheaper than the traditional retirement that allowed yours and my parents and grandparents to retire FOR REAL, they scrapped that costly program for the 401k, which is great if you're making 100k or more and have some savvy to follow your investments smartly. The average Joe Blow doesn't, don't, and won't have enough to retire on. Another win for the Corporate Oligarchy at our expense.

David Callahan: A Perfect Failure: Why the 401(k) Has Been a Flop

 

[KnobbyWalsh]

Wouldn't anyone assume that this is what is likely to happen with multi-millionaires with a hefty 401k? Move their money around? Or maybe open a 401K for their kid or kids?

Although the legislature wont pass the House, how do the Rats expect these millionaires to pay their enormous taxes if they "Take Away Their Millions" ???

Why do you care? You don't have any money.

Under Eisenhower, the tax rate on the wealthiest Americans was 90% and they still got rich.

History is so easy to find. Too bad right wingers are against learning "facts".

dean, that's absolutely right. But history to most of these people is going back to 9/11. Eisenhower? Most of these sheep probably think he replaced Lincoln.

 

[bripat9643]

Right, except Obama didn't say that all people need is $2.7 million.

That's what his budget says.

Right, except his budget doesn't say that.

Sure it does. That's why it places a limit on the amount you can have in your 401K

 

[bripat9643]

There's no law prohibiting Americans from having foreign accounts nor has anyone proposed such a law.

Give them time.

Hey bisex, what would the people who do your thinking for you say about Ben Stein's comments here?

No one does my thinking for me, asshole. You can tell because I'm not always referring to propaganda websites like MediaMatters.org or HuffingtonPost.

Sucking up propaganda is what turds like you do. Anyone who thinks Hedrick Smith is some kind of savant is definitely in the moron class.

 

[KnobbyWalsh]

Give them time.

Hey bisex, what would the people who do your thinking for you say about Ben Stein's comments here?

No one does my thinking for me, asshole. You can tell because I'm not always referring to propaganda websites like MediaMatters.org or HuffingtonPost.

Sucking up propaganda is what turds like you do. Anyone who thinks Hedrick Smith is some kind of savant is definitely in the moron class.

That's bullshit - you're a traitor, a sheep. You can't even face Ben Stein's truth.

 

[bripat9643]

Hey bisex, what would the people who do your thinking for you say about Ben Stein's comments here?

No one does my thinking for me, asshole. You can tell because I'm not always referring to propaganda websites like MediaMatters.org or HuffingtonPost.

Sucking up propaganda is what turds like you do. Anyone who thinks Hedrick Smith is some kind of savant is definitely in the moron class.

That's bullshit - you're a traitor, a sheep. You can't even face Ben Stein's truth.

That's simply his opinion. The Democrat party is far scarier than any cabal of wall street tycoons.

 

[TheSeventhTiger]

with 17 trillion in debt, up to 200 trillion in unfunded liabilities thru 2020(ish) what will stealing money from 401k's do to ease the situation?

 

[KnobbyWalsh]

No one does my thinking for me, asshole. You can tell because I'm not always referring to propaganda websites like MediaMatters.org or HuffingtonPost.

Sucking up propaganda is what turds like you do. Anyone who thinks Hedrick Smith is some kind of savant is definitely in the moron class.

That's bullshit - you're a traitor, a sheep. You can't even face Ben Stein's truth.

That's simply his opinion. The Democrat party is far scarier than any cabal of wall street tycoons.

Scarry for the SAME reasons Republicans are - sell outs. But you don't care, you enjoy being a sheep too much.

 

[TheSeventhTiger]

Between the Dems out to steal your money and the collapse of Obama-Care, we could have a shot of taking the Senate.