Compare that against Huckabee's 23%. 23% of the entire value. (that's the worst case scenario that you spend it all)
Now put the entire value on a complete spend decline of 15 years (65 to 80). Assume 5% annual growth for re-investment in each of those 15 years. The difference between your current tax liability and Huckabee's 23% value ..... less the tax free investment profits you could have is the real difference between status quo and Huckabee's plan.
Yes, I did.
Calculate your tax due if you took everything to market right now.
In my taxable accounts I'll owe 15% on my long term capital gains.
Your tax defered investments will owe tax, your things that you've traded in the past year in your taxable account won't. Either way... calculate your tax due if you took all of it to mark to market.
And that will make 30% somehow smaller than 15%?
Compare that against Huckabee's 23%. 23% of the entire value.
30%. Not 23%.
Now put the entire value on a complete spend decline of 15 years (65 to 80).
And that will make 30% (not 23%) somehow smaller than 15%? That will make me feel better about the original investment being taxed at 30% instead of 0% in my taxable accounts?