Class Warfare’s Next Target: 401(k) Savings – Raiding private retirement accounts, either with an upfront tax or as a conversion to government control, has been under consideration by our rulers in DC for a while now; at least since the Clinton years. That huge pool of wealth is simply too tempting for our money and power hungry rulers to resist.
This is also another example of how our rulers have no shame about changing the rules after the fact in regard to retirement plans, as I have explained on countless occasions when warning about Roth IRAs. How can anyone seriously feel safe about Roths remaining tax free for much longer, when our out of control rulers are openly contemplating a full scale confiscation of private retirement funds?
War Against the Wannabe Rich – Punishing success with Marxist “progressive” tax rates has long been the cornerstone of tax policy in this country and will only get worse with an openly Marxist administration and Congress in charge of our lives.
Another Obama pick owes back taxes, but it’s OK because, now caught, he’ll pay up – Obviously nothing new about one more tax and spend hypocrite joining the 0bambi team. What is surprising is that this snarky type look at that team is in the LA Times, which I had always understood to be the Left Coast equivalent of the NY Times, the official propaganda outlet for the DemonRat Party. Are some of the loyal little donkeys finally having their fill of 0bambi hiring tax cheats, while calling for higher taxes on everyone else?
Upper-Income Taxpayers Look for Ways to Sidestep Obama Tax-Hike Plan – As I have long been saying, electing a Marxist president would be the biggest boost to our business ever as more people see the need to stay out of his cross-hairs. It’s only a matter of time before that $250,000 threshold is reduced, bringing in more and more victims of Obama confiscation to see us about using income smoothing strategies, such as C corps.
Interestingly, I have noticed that the creative team at Tax Coach Software realized this money making opportunity as well and have been adding more and more Obama defense warnings and strategies to their arsenal over the past several months, with new ones showing up constantly.
Posted in Commies, preparers | Comments Off on The Silver Lining
Tax Guru - Ker$tetter Letter 