All CD interest, outside of a retirement account, would be taxable when earned.
Lots of people own CD’s but do not make enough income to pay taxes at all, on their total income!
No, but it will add tens of millions paying on their benefits, not only federally but at the state level, especially if you treat them like income.
All CD interest, outside of a retirement account, would be taxable when earned. Lots of people own CD’s but do not make enough income to pay taxes at all, on their total income!
You seem to want to keep this Ponzi scheme going, even if it means taxing us to death. The system is broken and is unsustainable. In 1950, we had 16 workers for every retiree, today it is 3.3, and by 2030 it will be two. You can't tax your way out of this abomination. The USG should get out of the pension scheme business as over 30 other countries have already done. Privatize most of it using personal accounts. Have a small defined benefit insurance program to cover disability and survivor benefits.