Obama creates ‘MyRa’ accounts

I can see the Government forcing IRA and other qualified pensions to liquidate to provide more tax revenue but out and out stealing the accounts? I just can't see it. As corrupt our Government is I just can't see them stoop that low.

Qualified accounts are a bad idea anyhow unless you have an employer who matches a portion of your contribution. I mean really, do you want to pay taxes on the seed or the crop it produces? The Seed of course. It would be smart if a person did start taking their qualified monies out over a 7 year period and purchase an indexed Universal Life product that has a nursing home / critical illness rider on it. Not only is the death benefit tax - free, the death benefit can be used to pay for Long term care needs.

In the future, do you think taxes are going to go up or down? Up right! With over 84 Trillion in unfunded liabilities, they have too! Tax rate are currently some of the lowest over the last 100 years. Much of the 40’s, 50’s, and 60’s had top tax rates that were ABOVE 90%. In 1944 and 1945 top tax bracket rate was at 94%. If the Government is going to steal your retirement accounts, that is how they are going to do it by raising taxes. youtu.be...