Obama eyes $2.7M lifetime limit on your 401(k)

Once again, Mr. Fair Share tries to step in with Big Government socialism to not only tell Americans when they've made enough, but now when they've saved enough. The audacity...

NYPost: President Obama’s new budget proposal aims to trim Americans’ nest eggs by setting a cap on lifetime contributions of 401(k)s at an average of $2.7 million and putting the policing of the limit on their employers.

This proposal, if it becomes law, would be the first time there has been a limit on the balances one could build up in a defined contribution plan, such as a 401(k) or an IRA.

Anything and everything's up for grabs when it comes to what they think government's fair share should be. After all, you don't need any more.

Rush had a few things to say about this one...

"This is the last thing Obama ought to be looking at, especially as a means of wiping out deficits and so forth. All this means, once again, is that your independence, your self-reliance, is a threat to them. Your being able to take care of your retirement is a threat."