60 Minutes: 99ers!!!!!!!!!!!!!!!!!!!!!!!!!

[Vinny1]

Quote from hippie:

You can own a home or car legally, but if u have undeclared cash in a safe, it is fraud. This stupid limitation targets renters and those have no real property!

Also 401k are exempt form the $2000 limitation, but IRA is counted. When a person lose his/her job and is forced to convert the 401k into an IRA, then it becomes counted. All the senseless regulations California has! Law makers w/o common sense!

That doesn't sound fair that you can own a paid off $10 million home in Beverly Hills and drive a new Lamborghini, and still get food stamps if you have less than $2,000 in liquid funds. Of course, most people who own a home and a car will have more than $2,000 in liquid funds.

 

[dandxg]

Quote from Vinny1:

That doesn't sound fair that you can own a paid off $10 million home in Beverly Hills and drive a new Lamborghini, and still get food stamps if you have less than $2,000 in liquid funds. Of course, most people who own a home and a car will have more than $2,000 in liquid funds.

Its not fair at all. I have friend that have all of their retirement in the banks with CD's etc because they don't trust 401k's and they would be ineligible as well. Life isn't fair, it just is.