Will Obama Really Confiscate Your Retirement Savings?http://www.fool.com/retirement/general/2013/04/21/will-obama-really-confiscate-your-retirement-savin.aspx Dan Caplinger
April 21, 2013
The budget proposal President Obama recently submitted had several provisions designed to increase government tax revenue. But one provision concerning retirement accounts triggered alarm bells for many Americans, raising fears that the government will confiscate your retirement savings.
Why people think confiscation is possible
Immediately, many analysts jumped to the conclusion that the provision might involve actually taking away money from retirement accounts. CNBC's Larry Kudlow described the measure in a special editorial in the New York Sun as an "incredible and arbitrary limit or tax on -- or even possible confiscation of -- IRA-type tax-advantaged savings account [emphasis added]."
Past confiscation fears
Yet this isn't the first time that the issue of confi