-
Roanoke Times, 6-16-10, Pg 10: Rules put new limits on card companies. The Federal Reserve adopted new rules aimed at protecting credit card customers from getting socked by lofty late payment charges (more than $25) and other penalty fees.
-
What an incredible and gross hypocritical pile of heifer-dust!
-
Want to see late charges, interest and penalties?
Just be late filing and paying your income taxes!
And we’re not talking about $25 !
-
And one of the biggest Government financial-atrocities of all:
The penalties for senior citizens who fail to take the Required Minimum Distribution from their 401’s or IRA’s.
-
THE PENALTY IS 50% (FIFTY PERCENT) !
This is without warning, without notice, without remorse!
-
These draconian and confiscatory penalties are extracted from senior citizens, many of whom may not even be aware or understand or comprehend the requirement to make yearly minimum withdrawals based on a federal table they may not even have.
-
Example: A senior has a $100,000 IRA that is the major asset to his/her retirement that they have accumulated over a life-time of work.
A typical distribution factor (divisor from an IRS table) would be 25.
-
$100,000 / 25 = $4000 the RMD (required minimum distribution)
50% penalty X $4000 = $2000 penalty for this senior citizen example
-
And these jerks in this news article are talking about a $25 penalty!
-
Just more hope and change and hypocrisy we can believe in!
-
-
http://roanokeslant.blogspot.com/2010/06/obamanation-continues.html
-
http://roanokeslant.blogspot.com/2010/06/more-obamacare-lies-and-deception.html
-
http://roanokeslant.blogspot.com/2010/06/obama-farmer.html
-
No comments:
Post a Comment