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April 14, 2013

Obama: ‘Prohibit’ Americans from Saving More Than $3M in Retirement Accounts

President Barack Obama on the Great Wall
of China. (AP Photo)

(CNSNews.com) - President Barack Obama’s proposed budget would simultaneously compel Americans to enroll in a tax-deferred retirement account and “prohibit” them from saving more than $3 million in such accounts.

That sum, Obama’s budget argues, is all that is “needed to fund reasonable levels of retirement saving.”
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