Home Mail MemberMap Chat (0) Wallpapers
Go Back   ChiefsPlanet > The Royal Lounge > D.C.

Reply
 
Thread Tools Display Modes
Old 04-12-2013, 04:31 PM  
Taco John Taco John is offline
12on Paul
 
Taco John's Avatar
 
Join Date: Jun 2001
Casino cash: $7377
Obama budget caps individual retirement accounts at $3 million

Obama seeks to cap retirement accounts so that no individual saves “more than is needed”

Obama’s budget plan, to be unveiled April 10, would prohibit taxpayers from accumulating more than $3 million in an individual retirement account. That proposal would generate $9 billion in revenue for the Treasury over the next decade, according to a White House statement released today.

“Under current rules, some wealthy individuals are able to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving,” the statement said.

http://www.businessweek.com/news/201...ney-sized-iras
Posts: 50,964
Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.
  Reply With Quote
Old 04-12-2013, 04:32 PM   #2
Taco John Taco John is offline
12on Paul
 
Taco John's Avatar
 

Join Date: Jun 2001
Casino cash: $7377
Personally, I want a helicopter hot tub as part of my retirement, and I think I'm going to need more than $3 million to get it built and keep it operating.
__________________
Ehyeh asher ehyeh.
Posts: 50,964
Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.Taco John is blessed with 50/50 Hindsight.
  Reply With Quote
Old 04-12-2013, 04:35 PM   #3
BucEyedPea BucEyedPea is offline
BucPatriot
 
BucEyedPea's Avatar
 

Join Date: Apr 2006
Location: None of your business
Casino cash: $13547
If the Republicans allow him to get away with more ways to collect revenue without spending cuts, then they are traitors.
__________________
“The power to declare war, including the power of judging the causes of war, is fully and exclusively vested in the legislature.” ~ James Madison, Father of the Constitution
Posts: 58,283
BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 04:35 PM   #4
KC Dan KC Dan is offline
Red, White & Blue for the U.S.
 
KC Dan's Avatar
 

Join Date: Sep 2001
Location: The Great Northwest now..
Casino cash: $6482
Unbelievable overreach, screw him
__________________
"And if you don't know where you're going
Any road will take you there" - George Harrison
Posts: 5,835
KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.
  Reply With Quote
Old 04-12-2013, 04:38 PM   #5
LiveSteam LiveSteam is offline
All aboard the crazy train
 
LiveSteam's Avatar
 

Join Date: Dec 2009
Location: homeof43conferencetitles
Casino cash: $7536
FORWARD
YA! MULE,YAAAAAAAA!
Posts: 16,962
LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.LiveSteam is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 04:56 PM   #6
Loneiguana Loneiguana is offline
Veteran
 
Loneiguana's Avatar
 

Join Date: Nov 2012
Location: Springfield
Casino cash: $7635
First Lets look at whats effected. IRA and 401K

Second, Let's look at two facts:
401k has a $17,500 limit. IRA has a $5000 Limit.

Third, Let's do some math.

40 years of max donation, with constant 5% annual growth, would get you $2,717,994. NOTE: Inflation means the limits were much lower 40 years ago, so this number should be lower. However, assuming the limit changes roughly matched inflation, this result is similar to 8% annual growth if you assume 3% annual inflation, or 9% annual growth if you assume 4% annual inflation.

Fourth, answer this question:
How does an account that you can only contribute $5000 annually, get to $3 million?

Legally, I mean

/one answer is stocks
Posts: 4,032
Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.Loneiguana would the whole thing.
  Reply With Quote
Old 04-12-2013, 04:59 PM   #7
KC Dan KC Dan is offline
Red, White & Blue for the U.S.
 
KC Dan's Avatar
 

Join Date: Sep 2001
Location: The Great Northwest now..
Casino cash: $6482
Quote:
Originally Posted by Loneiguana View Post
First Lets look at whats effected. IRA and 401K

Second, Let's look at two facts:
401k has a $17,500 limit. IRA has a $5000 Limit.

Third, Let's do some math.

40 years of max donation, with constant 5% annual growth, would get you $2,717,994. NOTE: Inflation means the limits were much lower 40 years ago, so this number should be lower. However, assuming the limit changes roughly matched inflation, this result is similar to 8% annual growth if you assume 3% annual inflation, or 9% annual growth if you assume 4% annual inflation.

Fourth, answer this question:
How does an account that you can only contribute $5000 annually, get to $3 million?

Legally, I mean

/one answer is stocks
nice start but you are missing stuff that is perfectly legal. For example, at the age of 50, people can also add an additional $5,500 per year to 401K's and 5% annual growth average is pretty low as well. Doesn't take into account company matching funds either...Especially if you utilize well run funds. I have averaged 10.5% over the past 13 years. Bottom line is: who the ____ does the govenment (Obama) think they are to tell us how much is enough for our retirement?
__________________
"And if you don't know where you're going
Any road will take you there" - George Harrison
Posts: 5,835
KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.
  Reply With Quote
Old 04-12-2013, 05:16 PM   #8
BucEyedPea BucEyedPea is offline
BucPatriot
 
BucEyedPea's Avatar
 

Join Date: Apr 2006
Location: None of your business
Casino cash: $13547
Quote:
Originally Posted by KC Dan View Post
Especially if you utilize well run funds. I have averaged 10.5% over the past 13 years. Bottom line is: who the ____ does the govenment (Obama) think they are to tell us how much is enough for our retirement?
That's what a commie fascist does to people. Obama's arrogance is astounding.
__________________
“The power to declare war, including the power of judging the causes of war, is fully and exclusively vested in the legislature.” ~ James Madison, Father of the Constitution
Posts: 58,283
BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.BucEyedPea is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 05:40 PM   #9
WhitiE WhitiE is online now
so close
 

Join Date: Sep 2007
Location: wichita
Casino cash: $7188
Fug it ima cash out my 401k
Posts: 2,164
WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.WhitiE 's phone was tapped by Scott Pioli.
  Reply With Quote
Old 04-12-2013, 05:43 PM   #10
Iowanian Iowanian is offline
Besides, big day tomorrow
 
Iowanian's Avatar
 

Join Date: Aug 2000
Location: Utopia
Casino cash: $10372
This puke is everything I feared he would be.
__________________
Quote:
Originally Posted by KC native View Post
I said I'm an expert dickrider.
Posts: 50,356
Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.Iowanian is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 05:51 PM   #11
theelusiveeightrop theelusiveeightrop is offline
Spiraling down the Drain
 
theelusiveeightrop's Avatar
 

Join Date: Oct 2012
Location: Dante's Ninth Circle
Casino cash: $10180
Great idea. Keep it up, Barry.
__________________
"We're both part of the same hypocrisy, Senator, but never think it applies to my family."

2014 Adopt a Chief - Travis Kelce #87
Posts: 20,192
theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.theelusiveeightrop is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 05:54 PM   #12
loochy loochy is offline
That's what she said.
 
loochy's Avatar
 

Join Date: Oct 2008
Location: TECKSIS
Casino cash: $10642
now THIS one makes me really mad

like my face is getting hot right now

WTF IT'S MY GOD DAMN MONEY
__________________
Please note that any racist, sexist, or otherwise outrageous opinions expressed in this post have been made for comedic or trolling purposes only and are not the actual opinions of loochy or any affiliated entities. Reader discretion is advised.

Quote:
Originally Posted by big nasty kcnut View Post
yeah i may be a retard but I'll be the one banging your girlfriend when you're out with your friends.
Posts: 18,861
loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.loochy is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 05:57 PM   #13
KC Dan KC Dan is offline
Red, White & Blue for the U.S.
 
KC Dan's Avatar
 

Join Date: Sep 2001
Location: The Great Northwest now..
Casino cash: $6482
Quote:
Originally Posted by loochy View Post
now THIS one makes me really mad

like my face is getting hot right now

WTF IT'S MY GOD DAMN MONEY
And, right there is what he truly does not believe. It is NOT your money to him. It is everyone's.
__________________
"And if you don't know where you're going
Any road will take you there" - George Harrison
Posts: 5,835
KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.KC Dan would the whole thing.
  Reply With Quote
Old 04-12-2013, 06:12 PM   #14
RedNeckRaider RedNeckRaider is offline
Got highway?
 
RedNeckRaider's Avatar
 

Join Date: Sep 2001
Location: Close to the big pond~
Casino cash: $7349
Quote:
Originally Posted by KC Dan View Post
And, right there is what he truly does not believe. It is NOT your money to him. It is everyone's.
He is a shit stain and so is everyone that still blindly follows him~
__________________
It would indeed be a tragedy if the history of the human race proved to be nothing more than the story of an ape playing with a box of matches on a petrol dump.
David Ormsby Gore~
Posts: 24,204
RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.RedNeckRaider is obviously part of the inner Circle.
  Reply With Quote
Old 04-12-2013, 06:14 PM   #15
cosmo20002 cosmo20002 is offline
Debunking your bullshit
 
cosmo20002's Avatar
 

Join Date: Aug 2002
Location: KC area
Casino cash: $15345
Quote:
Originally Posted by KC Dan View Post
nice start but you are missing stuff that is perfectly legal. For example, at the age of 50, people can also add an additional $5,500 per year to 401K's and 5% annual growth average is pretty low as well. Doesn't take into account company matching funds either...Especially if you utilize well run funds. I have averaged 10.5% over the past 13 years. Bottom line is: who the ____ does the govenment (Obama) think they are to tell us how much is enough for our retirement?
Why wouldn't you be able to save as much as you want?
Posts: 19,407
cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.cosmo20002 is obviously part of the inner Circle.
  Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 06:43 AM.


This is a test for a client's site.
A new website that shows member-created construction site listings that need fill or have excess fill. Dirt Monkey @ https://DirtMonkey.net
Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.