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Old Today, 05:24 AM
 
4,527 posts, read 2,471,979 times
Reputation: 8188

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Quote:
Originally Posted by gunslinger256 View Post
fear mongering.

same with the threat of taking the guns.
It becomes a likelier possibility the more our country and states get into deficits. They can only tax existing income streams so much then they will get creative on taxing remaining asset pools. Deferred gains on retirement accounts are low hanging fruit.

Open your eyes.
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Old Today, 05:42 AM
 
69,377 posts, read 69,968,003 times
Reputation: 46955
People will just take out some of the ira money earlier , pay the known tax and buy a leveraged tax free life insurance policy and get around paying some unknown tax later
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Old Today, 05:50 AM
 
Location: Thailand
5,676 posts, read 2,724,077 times
Reputation: 10591
Quote:
Originally Posted by SWFL_Native View Post
Open your eyes.
Ahh and here it is... the battle cry of the paranoid. It translates to "I have no facts on my side but you should believe me because I say so" and is often accompanied by some youtube videos with scary music and amateurish opening sequences.

Maybe we can get a sheeple reference for the twofer.
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Old Today, 06:04 AM
 
4,482 posts, read 4,641,029 times
Reputation: 3488
Quote:
Originally Posted by SWFL_Native View Post
It becomes a likelier possibility the more our country and states get into deficits. They can only tax existing income streams so much then they will get creative on taxing remaining asset pools. Deferred gains on retirement accounts are low hanging fruit.

Open your eyes.
If they do this it ceases to have any benefits for the user. Why would I lock up my money until Iím 59.5 if it has the same taxes as a brokerage account. They tried something like this on 529s a while back where all gains in the account would be taxable...it didnít pass, but if you do that there is literally no benefit to a 529. You get penalized if itís not used for schooling and you get taxed like itís a brokerage account.
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Old Today, 06:04 AM
 
4,527 posts, read 2,471,979 times
Reputation: 8188
Quote:
Originally Posted by lieqiang View Post
Ahh and here it is... the battle cry of the paranoid. It translates to "I have no facts on my side but you should believe me because I say so" and is often accompanied by some youtube videos with scary music and amateurish opening sequences.

Maybe we can get a sheeple reference for the twofer.
Read this... what is being proposed would be disastrous. Politicians have a very weak understanding of markets and economics. If this is a feasible solution then so is a 75% tax on the ďrichĒ for deferred Roth gains.

https://finance.yahoo.com/news/stude...124020955.html
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Old Today, 06:18 AM
 
Location: Thailand
5,676 posts, read 2,724,077 times
Reputation: 10591
Quote:
Originally Posted by SWFL_Native View Post
Read this... what is being proposed would be disastrous. Politicians have a very weak understanding of markets and economics. If this is a feasible solution then so is a 75% tax on the “rich” for deferred Roth gains.

https://finance.yahoo.com/news/stude...124020955.html
Okay so now your ironclad rationale for the government seizing retirement savings is that some obscure presidential candidate in Florida has cooked up some plan to forgive student loans, therefore it makes sense that the actual federal government would take 401ks. Then you're adding a cherry to your logic sundae by describing this clown's plan as "a feasible solution" as if whatever notion gets floated by 3rd rate politicians nobody has ever heard of is automatically feasible or under consideration as something that would be implemented. Finding more crazy doesn't make the other crazy less crazy.

Come on man, this does not buttress your argument.
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Old Today, 01:09 PM
 
Location: east TN
83 posts, read 17,092 times
Reputation: 322
They don't need to take 401k/IRAs. In the past decade, they have merely issued debt (printed) to cover the tax shortfall, and they will continue to do so in the future rather than risk the ire of account holders.



Of course, that dilutes the value of saving in those accounts, and the holders will not doubt not have near the purchasing power they thought they were going to have, but that is easier on those in power than outright confiscation.
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Old Today, 01:12 PM
 
Location: east TN
83 posts, read 17,092 times
Reputation: 322
Quote:
Originally Posted by SWFL_Native View Post
It becomes a likelier possibility the more our country and states get into deficits. They can only tax existing income streams so much then they will get creative on taxing remaining asset pools. Deferred gains on retirement accounts are low hanging fruit.

Open your eyes.

They won't do it on the national level for the reason I stated above....they can print their way out of the problem. And unless the States come up with some kind of 'exit' tax, the account holders will merely flee (as they already are) to a State with more sanity.
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