Obama to propose limits on IRAs for the rich
Source: CNN
President Obama on Wednesday is expected to announce a plan that would prohibit individuals from reaping tax advantages on IRAs and other tax-preferred retirement accounts when the funds exceed $3 million.
By proposing the cap as part of its budget, the Obama administration is taking aim at those who stash many millions of dollars in tax-advantaged retirement accounts -- which it argues is more than enough to retire comfortably.
A $3 million balance in a tax-preferred account like an IRA would currently allow a saver to finance an annuity of $205,000 per year in retirement. Removing the tax advantages for funds exceeding that threshold would save the government an estimated $9 billion over a decade, according to a senior administration official.
Based on the $3 million cap, less than 0.1% of IRA and 401(k) savers would be impacted, according to analysis from the Employee Benefit Research Institute. About 0.03%, or 6,180, of the 20.6 million IRA accounts in EBRI's database had balances exceeding $3 million at the end of 2011, while 0.0041% of 401(k) accounts held $3 million or more by the end of 2012.
Read more: http://money.cnn.com/2013/04/10/retirement/obama-retirement-saving/index.html?hpt=hp_t4
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meaning including the teahadists in the House, do people on DU continue to miss? 
HE can't do this. Congress has to do it. There is no dictatorship here in the U.S. 
PASSAGE of legislation is what makes it so.
The whining is tiresome.
This bullshit about FDR is also tiresome. FDR was elected to 4 terms (and died that 1st year of his 4th term). The country went through a double-dip depression, why? Was it because FDR lacked "spine"? Or was it because someone didn't continue to ENACT the legislation that was needed to keep the nation from going back off a cliff?
lacks anything that has to do with any "fact". It's pure unadulterated bullshit "opinion".
What IS fact is this -
No one would have gotten to this point without "leadership". People have posted accomplishments over and over and over here on DU but it is like hitting a brick wall.
The problem has nothing to do with any nonsensical lack of "leadership", it has to do with extremist firedog lake huggers using RW talking points to promote their agenda while giving their teabagger buddies a pass.
These jackasses have no idea of how a bill becomes a law. 
And when told this they say -
"Well he should use his bully pulpit"
And when he DOES go out and use the bully pulpit, then they say -
"Well that's a good speech but actions speak louder than words"
And then when any type of legislation that either he or the rest of the Democrats propose dies by filibuster in the Senate and by not even being brought up in a Committee in the House, then they say -
"Bash bash sellout bash bash IMPEACH!!!111!!!!!!11111"
Wash. Rinse. Repeat. 
The A is for "arrangement" and the IRA accounts are treated as a whole for taxing for things like the required minimum distributions on the year following the year you turn 59 and a half. 
