growing_older
Thinks s/he gets paid by the post
- Joined
- Jun 30, 2007
- Messages
- 2,657
There are news reports covering the newly proposed budget:
Obama budget to offer program cuts, seek deficit deal: official | Reuters
OBAMA BUDGET includes chained CPI, in effort to revive talks -- HOUSE IMMIGRATION PLAN soon -- ROGER EBERT'S last post -- THE FIRST Playbook Deal du Jour - POLITICO Playbook - POLITICO.com
I doubt I will ever have that much accumulated, but with inflation and a long life, I could easily see my kids accounts reaching these limits,. Does anyone know any more about this proposal. Is this just a trial balloon? What happens when an account reaches this size? Do they simply allow no more contributions? Per account, or adding all accounts in all the various tax deferred and tax advantaged programs combined? Far too many details needed to understand this for a single sentence in a news report to tell me enough about it. Lots of googling didn't turn up much more detail.
Obama budget to offer program cuts, seek deficit deal: official | Reuters
OBAMA BUDGET includes chained CPI, in effort to revive talks -- HOUSE IMMIGRATION PLAN soon -- ROGER EBERT'S last post -- THE FIRST Playbook Deal du Jour - POLITICO Playbook - POLITICO.com
In addition, the president will seek to increase revenues by placing a $3 million upper limit on tax-preferred retirement accounts
The budget will include a new proposal that prohibits individuals from accumulating over $3 million in IRAs and other tax-preferred retirement accounts.
I doubt I will ever have that much accumulated, but with inflation and a long life, I could easily see my kids accounts reaching these limits,. Does anyone know any more about this proposal. Is this just a trial balloon? What happens when an account reaches this size? Do they simply allow no more contributions? Per account, or adding all accounts in all the various tax deferred and tax advantaged programs combined? Far too many details needed to understand this for a single sentence in a news report to tell me enough about it. Lots of googling didn't turn up much more detail.