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To: Pearls Before Swine

The DNC has proposed a wealth tax every year since 1994. It never gets out of committee. 15% of your retirement account (any type).


21 posted on 10/07/2012 6:35:34 PM PDT by Snuph ("give me Liberty...")
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To: Snuph
The DNC has proposed a wealth tax every year since 1994. It never gets out of committee. 15% of your retirement account (any type).

That would have to be 15% of the income attributed to the account. 15% tax on the account would confiscate it in roughly 7 years.

Of course, that would go back on the whole promise/premise of IRAs, SEPs, and Roth accounts. A slightly lower tax rate wouldn't be enough to induce me to fence off my money for several decades.

22 posted on 10/07/2012 6:39:44 PM PDT by Pearls Before Swine
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