The Financial Squeeze?

Obama’s idea of capping retirement accounts at approximately $3,000,000 is a shot across the bow to retirement investors.  Cyprus’s bank haircut is an attack on savers.  Is Western Capitalism under assault?

A 3.8% Obamacare surcharge on investment income (for “high” earners) — this includes dividends, capital gains, passive income, interest income, etc.  Not to mention the 0.9% tax hike on MAGI (modified, adjusted gross income) above $250,000 to married couples ($200,000 for individuals).

The questions I ask myself, are “Is this a long-term trend?”  Will the takers continue to out-vote the makers?

I will have to monitor the situation, both domestically and abroad.  I would prefer to stay in the USA, but I have to mentally prepare for a seismic shift in taxes, and property rights.

In the meantime, I anticipate early changes will be gradual.  It is also likely that the fiscal pendulum that is swinging left, will eventually begin to swing back to the right.

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