Windfall Tax on Retirement Income
 

Adding a tax to your retirement is simply another way of saying to the American people, you're so darnn 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'.

Re: Windfall Tax on Retirement Income
 

Perhaps you might want to research some of this nonsense prior to posting, but then again, do you really want the truth??

http://www.snopes.com/politics/soapbox/pelosi.asp

Re: Windfall Tax on Retirement Income
 

Interestingly, from Ms. Pelosi's website (http://www.speaker.gov/legislation?id=0162) is her opinion of the Renewable Energy and Energy Conservation Tax Act of 2008, H.R. 5351, the legislation in question. Having read the legislation, particularly Title III which deals with its Revenue Provisions, significant reductions in the tax deductions given oil companies are proposed.

It doesn't take a financial genius to note that if you reduce tax deductions, you increase taxes paid, and if there are no other revenue changes, then profits are reduced. Reduced profits mean reduced stock dividends, which means reduced moneys to many who hold these stocks (e.g., pension plans). The only gainer is the Federal Treasury by virtue of higher taxes on oil profits - money that Washington can spend as it see fits.

In order to keep dividends at the same level, which means profits would have to be at the same level, then energy prices would have to be raised to the consumer. That's a good deal? ? ? ?

To quote from Ms. Pelosi's website:

The bill is fiscally responsible – paying for these energy incentives by repealing unnecessary tax subsidies for large integrated oil companies. The big five oil companies recently reported record profits for 2007, with ExxonMobil earning $40.6 billion - the largest corporate profit in American history. While oil company profits have quadrupled, high energy prices continue to squeeze American families – gas prices have skyrocketed and home heating oil has jumped along with other household costs.

Watch Speaker Pelosi speak in support of the legislation:

If it walks like a duck.......

Re: Windfall Tax on Retirement Income
 

So you somehow equate that to "windfall tax on retirement income"?

Wow!

Re: Windfall Tax on Retirement Income
 

Yeah Steve, that's 'our little enetitled Nancy.' She's also on the 10 most corrupt politicians for 2007.

Rep. Nancy Pelosi (D-CA): House Speaker Nancy Pelosi, who promised a new era of ethics enforcement in the House of Representatives, snuck a $25 million gift to her husband, Paul Pelosi, in a $15 billion Water Resources Development Act recently passed by Congress. The pet project involved renovating ports in Speaker Pelosi's home base of San Francisco. Pelosi just happens to own apartment buildings near the areas targeted for improvement, and will almost certainly experience a significant boost in property value as a result of Pelosi's earmark. Earlier in the year, Pelosi found herself in hot water for demanding access to a luxury Air Force jet to ferry the Speaker and her entourage back and forth from San Francisco non-stop, in unprecedented request which was wisely rejected by the Pentagon. And under Pelosi’s leadership, the House ethics process remains essentially shut down – which protects members in both parties from accountability.

Don't even get me started on Feinstein who is also on that list (as are some Republicans so as to be fair and balanced) :)

Re: Windfall Tax on Retirement Income
 

Yep! Higher math is not my strong suit, but I can add and subtract...

Re: Windfall Tax on Retirement Income
 

And snopes.com rumor has it -- is your bible because?