There are approximately 75 million baby boomers in the United States, some of whom will turn 70 1/2 in the next few years. What makes that age significant is that their 401(k), Keough plans, 403(b) and other tax-deferred savings plans must begin distribution.
Translated, that means millions of new tax dollars will pour into the government coffers and sadly into the hands of our elected officials to spend as frivolously as they have over the past decade.
Beware, America. We need to send a message to the politicos in Washington to use this money in a prudent manner: for example, paying down the debt. What an idea.
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