Windfall Tax on Retirement Income

Adding a tax to your retirement is simply another way of saying to the American people, you're so darn stupid that we're going to keep doing this until we drain every cent from you. That's what the Speaker of the House is saying. Read below....... ........

Nancy Pelosi wants a Windfall Tax on Retirement Income. In other words tax what you have made by investing toward your retirement. This woman is a nut case! You aren't going to believe this.

Madam speaker Nancy Pelosi wants to put a Windfall Tax on all stock market profits (including Retirement fund, 401K and Mutual Funds! Alas , it is true - all to help the 12 Million Illegal Immigrants and other unemployed Minorities!

This woman is frightening.

She quotes...' We need to work toward the goal of equalizing income, (didn't Marx say something like this?), in our country and at the same time limiting the amount the rich can invest.' (I am not rich, are you?)

When asked how these new tax dollars would be spent, she replied:

'We need to raise the standard of living of our poor, unemployed and minorities. For example, we have an estimated 12 million illegal immigrants in our country who need our help along with millions of unemployed minorities. Stock market windfall profits taxes could go a long way to guarantee these people the standard of living they would like to have as 'Americans'. ' (Read that quote again and again and let it sink in. 'Lower your retirement, give it to others who have not worked as you have for it'.

Send it on to your friends. I just did!! This lady is out of her mind and she is the speaker of the house!

Hpo an change-o

^ First, Snopes is not always accurate, and they are also very politically motivated.

Second, Warren Buffett is a big DNC supporter.

#4 LMAO. Well, there you go. #3, you have Snopes. We have jpotts, who apparently isn't going to cite us to any contradictory authority or information, he's just going to take a couple shots across the bow at Snopes in general.

Translation: "I reject your reality, and substitute my own."

Potsy, you seriously crack me up. If you have something that establishes that Snopes is incorrect in its reporting on this, by all means, please share it with the rest of the class. Or just sit and stew in the knowledge that you know you're right, by God, no matter how much the evidence says you're not.

LMFAO.

^ LMAO

Look, I am not defending Pelosi. But come on, read that ****. Not even Pelosi is THAT far removed from reality. Close, maybe, but as soon as I read that I automatically looked it up because it sounded so ridiculous.

There are three times, in my recollection, that Snopes went around saying that the "urban myth" in question was incorrect. The oldest one the "dispelled" was the "Al Gore Created The Internet" gaffe.

The guy frickin' said it on national frickin' TV. There's video of that comment on youtube. Snopes "excused" him by claiming that he basically didn't mean what he said.

There are two others that I will repost if they come to mind.

Snopes is, by no means, a site that can be relied upon for dispelling urban myths.

Stock market profits? What are those?

Are all of these retirees short financials?

I have no idea about the validity of the OP, but the idea is not new. In fact, Reagan signed such a law int effect. it is know as the Internal Revenue Code of 1986, which is still the base tax law we are using today.

two components hit the mark

- prior to 1986, reinvested interest and dividends were not taxed. now, we pay tax on "phantom" income - interest and dividends we have never touched, but are taxed on anyway.

- in 1983 Reagan signed into law the provisions that tax social security, so that the money we pay into our government mandated retirement syetem with AFTER tax money is again taxed when the government gives it back to us. This is basically the same thing as if the government changes its mind and starts taxing distributions from a Roth IRA.

so, the idea of the Gov't finding a way to "tax" gains in our retirement plans is not out of the question.

#7 To say they were wrong on another occasion doesn't prove they are wrong on this one. I'm just asking, if you have something persuasive to the contrary in the way of actual information rather than just claiming you doubt Snopes, please share it.

snopes is controlled by George Soros.

10. Author: pacman357 Date: 02/03/2009 03:07 PM Reply

#7 To say they were wrong on another occasion doesn't prove they are wrong on this one. I'm just asking, if you have something persuasive to the contrary in the way of actual information rather than just claiming you doubt Snopes, please share it.

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I never said they were wrong on this one, only that Snopes is by no means a good source for "debunking" myths.

It's up there with using Wikipedia as a reference.

Use it as a guide, but verify they're right with something out of a fairly credible media outlet.