Tax-Free IRA Withdrawals?
We're not sure how this one will help the stock market and the savings rate:
Relief to Families: Penalty-Free Withdrawals from IRAs and 401(k)s in 2008 and 2009. Obama is calling for new legislation to allow families to withdraw 15% of their retirement savings – up to a maximum of $10,000 – without facing a tax-penalty this year (including retroactively) and next year.
PLEASE DO NOT ELECT THIS IDIOT!!!
P L E A SE !!!
And for the panicking masses out there, here's mathematical riddle to solve one second before you depleet your retirement accounts:
If the Dow were to tank 600 a day every day, and the Dow is worth 9387.61 today, how many days are left for the Dow Jones to reach 0?
Now, if you only wait for it to reach 0.01, you could double your money when it reaches 0.02. (That was a joke)
When REALLY DUMB politicians are making ideas as dumb as suggesting to people to make a run on their retirement funds, it is time to get scared. Or - a better time to get scared, is when they get elected. Truth be told, if this idea does not sound dumb to you, and you want a socialist Marxist to be president and send checks from the government, which you funded by your tax money to people who did not pay taxes - why don't you just give your money directly to me right now. I'll send you all the details and promise to enjoy it thoroughly. I promise you that I'm poor enough to enjoy your money. Maybe not any more in need of free money than you - but it will feel just the same. You can give your money to me right now - and I'll send you a postcard telling you how I enjoyed it. I'm sure the people you would give your money later anonymously would not send you a postcard!
For inquiries into how to send me your money for nothing back other than a post card, email me at: ShawarmaMayor@live.com