The budget proposal President Obama recently submitted had several provisions designed to increase government tax revenue. But one provision concerning retirement accounts triggered alarm bells for many Americans, raising fears that the government will confiscate your retirement savings.
Why people think confiscation is possible
The provision in the Obama budget calls for tax laws to "prohibit individuals from accumulating over $3 million in tax-preferred retirement accounts." Specifically, the budget refers to a complicated formula that involves figuring out how much money a person would need in order to buy an annuity contract that would guarantee annual payments to retirees of $205,000 for the rest of their lives. The proposal would raise $9 billion over the next 10 years, according to the budget's forecast.
Top 10 Dow Dividend Stocks To Watch For 2014: International Millennium Mining (IMI.V)
International Millennium Mining Corp., an exploration stage company, engages in acquiring, exploring, and evaluating mineral properties in Canada and the Americas. It primarily explores for gold, silver, cobalt, molybdenum, zinc, lead, nickel, copper, and platinum group metals. The company owns interests in various properties located in British Columbia and Ontario, Canada; Nevada, the United States; and Sonora State, Mexico. International Millennium Mining Corp. is headquartered in North Vancouver, Canada.
Top 10 Dow Dividend Stocks To Watch For 2014: Grande Portage Resources Ltd. (GPG.V)
Grande Portage Resources Ltd., an exploration stage company, engages in the exploration and development of mineral resource properties in the United States and Canada. It primarily focuses on exploration for gold and silver. The company holds an option to acquire 65% interest in the Herbert Glacier gold property located in north of Juneau, Alaska. The company is based in Vancouver, Canada.
Top High Tech Companies To Buy Right Now: Technics Oil & Gas Limited (5CQ.SI)
Technics Oil & Gas Limited, an investment holding company, operates as an integrator of compression systems and process modules for the offshore oil and gas sector worldwide. The company�s Engineering, Procurement, Construction, and Commissioning segment engages in the design, procurement, fabrication, installation, and commissioning of process modules and equipment, including gas compression packages that are integrated to form the operating system for production operations and storage applications in offshore and onshore oil and gas exploration and production activities. Its Contract Engineering segment is involved in designing, procuring, and fabricating modules, systems, or equipment. The company�s Procurement Services segment provides after-sales services, as well as supplies spare parts and equipment for oil and gas exploration and production applications. Technics Oil & Gas Limited also engages in the design, engineering, integration, testing, and supply of turbo machinery control for the oil and gas, power, and general industries; and design, manufacture, and engineering of thermal technology products for the marine, offshore, oil and gas, power, refinery, and other related industries. In addition, the company provides marketing, coordination, and administrative support services; and manufactures control systems and solutions for marine, offshore, oil and gas, power, waterworks, and general industries. Further, it engages in the manufacture and repair of marine and industrial mechanical parts; engineering works; and process industries construction and maintenance activities. Additionally, the company offers repair and cleaning services for tanks and other ocean-going vessels; and non-building construction services. Technics Oil & Gas Limited was founded in 1990 and is headquartered in Singapore.
Top 10 Dow Dividend Stocks To Watch For 2014: Orion Marine Group Inc(ORN)
Orion Marine Group, Inc. operates as a marine specialty contractor serving the heavy civil marine infrastructure market. The company provides a range of marine construction and specialty services on, over, and under the water along the Gulf Coast, the Atlantic Seaboard, the West Coast, Canada, the Caribbean Basin, and the Pacific Northwest. The company?s marine construction services include construction of marine transportation facilities, marine pipelines, bridges and causeways, and marine environmental structures. Its marine transportation facility construction projects comprise public port facilities for container ship loading and unloading; cruise ship port facilities; private terminals; recreational use marinas and docks; and other marine-based facilities. Orion Marine Group?s marine pipeline service projects consist of the installation and removal of underwater buried pipeline transmission lines; installation of pipeline intakes and outfalls for industrial facilities ; construction of pipeline outfalls for wastewater and industrial discharges; river crossing and directional drilling; and creation of hot taps and tie-ins. Its bridge and causeway projects include the construction, repair, and maintenance of bridges and causeways, as well as the development of fendering systems in marine environments; and marine environmental structure projects primarily comprise the installation of concrete mattresses to ensure erosion protection, and the installation of geotubes for wetlands and island creation. In addition, the company offers dredging services; specialty services, including salvage, demolition, surveying, towing, diving and underwater inspection, excavation, and repair; and survey services comprising surveying pipelines and performing hydrographic surveys. Its customers include federal, state, and municipal governments, as well as private commercial and industrial enterprises. The company was founded in 1994 and is headquartered in Houst on, Texas.
Top 10 Dow Dividend Stocks To Watch For 2014: City Of London Pr Grp(CIN.L)
City of London Group Plc, an investment holding company, engages in investing primarily in the financial services sector in the United Kingdom, the Unites States, Canada, and Australia. It maintains its investment portfolio; manages an investment fund; manages funds that finance legal litigation cases; and funds specialist trade finance for small and medium sized enterprises. The company is based in London, the United Kingdom.
Top 10 Dow Dividend Stocks To Watch For 2014: Cairn Energy(CNE.L)
Cairn Energy PLC, together with its subsidiaries, engages in the discovery, exploration, development, and production of oil and gas. It has license interests in various blocks located in India, Nepal, Sri Lanka, Greenland, Albania, and Spain. As of December 31, 2010, the company had proven plus probable reserves of 315.7 million barrels of oil equivalent. Cairn Energy PLC is headquartered in Edinburgh, the United Kingdom.
Top 10 Dow Dividend Stocks To Watch For 2014: RDA Microelectronics Inc.(RDA)
RDA Microelectronics, Inc., a fabless semiconductor company, designs, develops, and markets radio-frequency and mixed-signal semiconductors for cellular, broadcast, and connectivity applications. Its products include power amplifiers, transceivers and front-end modules, FM radio receivers and transmitters, set-top box tuners, analog mobile television receivers, walkie-talkie transceivers, LNB satellite downconverters, and Bluetooth system-on-chips for mobile handsets. The company?s products also comprise GSM/EDGE power amplifier modules, GSM transceivers, TD-SCDMA transceivers, SCDMA transceivers, 3G switch modules, GSM power amplifier and switch modules, PHS transceivers, TD-SCDMA/GSM dual-mode transceivers, and radio frequency switches; DVB-T tuners, DVB-S and DVB-S2 satellite tuners, analog mobile television receiver system-on-chips, and FM radio receivers with radio data system; and Bluetooth + FM system-on-chips for mobile handsets and walkie-talkie transceivers for professional applications. Its products are incorporated into mobile handsets, set-top boxes, MP3 players, and other wireless and consumer electronic devices. RDA Microelectronics sells its products through distributors in the People?s Republic of China, southeast Asia, India, the Middle East, Africa, the Russian Federation, and Latin America. The company was founded in 2004 and is headquartered in Shanghai, the People?s Republic of China.
Top 10 Dow Dividend Stocks To Watch For 2014: Abbeycrest(ACR.L)
Abbeycrest plc, through its subsidiaries, engages in the design, manufacture, and distribution of jewelry products worldwide. It primarily offers gold, platinum, palladium, silver, and gemset jewelry. The company offers its products to the retailers and individuals. Abbeycrest plc is based in Leeds, the United Kingdom.
Top 10 Dow Dividend Stocks To Watch For 2014: CEVA Inc.(CEVA)
CEVA, Inc., together with its subsidiaries, engages in licensing silicon intellectual property (SIP) for the handsets, mobile broadband, portable, and consumer electronics markets primarily in the United States, Europe, the Middle East, and the Asia Pacific. It designs and licenses DSP cores in the form of a hardware description language definition; a portfolio of application-specific platforms, including wireless baseband, audio, imaging and vision, voice over Internet protocols (VoIP), Bluetooth, and serial storage technology and serial attached SCSI; and development platforms, software development kits, and software debug tools that facilitate system design, debug, and software development. The company?s intellectual property (IP) is used by semiconductor and original equipment manufacturer companies for application-specific integrated circuits and application-specific standard products. It serves various markets, including feature phones, smartphones, machine to machi ne for various cellular standards, home entertainment, portable game consoles, and serial storage and telecommunication devices. CEVA, Inc. markets its technology through a direct sales force. The company was formerly known as ParthusCeva, Inc. and changed its name to CEVA, Inc. in December 2003. CEVA, Inc. was founded in 1999 and is headquartered in Mountain View, California.
Top 10 Dow Dividend Stocks To Watch For 2014: Biorem Inc (BRM.V)
Biorem Technologies Inc. designs, manufactures, and supplies air emissions control systems for the municipal and industrial sectors in North America. The company offers biofilters for the removal of odors, H2S, volatile organic compounds (VOCs), and hazardous air pollutants; biotrickling filters for the removal of high level H2S and other water soluble odorous gases from air streams; dual stage systems to treat odors associated with various municipal waste water treatment processes; systems to remove impurities and condition biogas; and VOC treatment systems. Its filter media products comprise Biosorbens, an inorganic permanent biofilter media for odor removal; XLD, a biofiltration media designed for biosolids applications for the removal of high odor, low H2S, and reduced sulfur compounds; and LWE, an engineered synthetic media designed for the company�s biotrickling filters. The company is headquartered in Guelph, Canada.
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