Author Topic: Future US tax policy  (Read 23901 times)

Offline CountValentine

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Re: Future US tax policy
« Reply #40 on: July 10, 2019, 09:41:43 AM »
That doesn't make it a middle class issue. The vast majority of the middle class would probably say that the limiting of a way to save for one's children's retirements, or for one's grandkids college education, is rich people problems.

Tax advantaged retirement accounts were meant to help people save for retirement. All this other shtick past retirement years (ie what happens with the account once you die) was gravy.

I'm not saying this doesn't unduly burden anyone. I was reacting to the super click-baity title/opening line. Congress is not 'coming for your IRA'. And they're not sticking it to the middle class - this primarily affects rich people, even if there is some collateral damage.
Just pointing out that many middle class get a benefit from this even if it most likely was not their original intent. My IRA will out live me and most people I know.
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Offline skyguy918

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Re: Future US tax policy
« Reply #41 on: July 10, 2019, 09:43:22 AM »
Just pointing out that many middle class get a benefit from this even if it most likely was not their original intent. My IRA will out live me and most people I know.
And that part is not changing. What's changing is how long your beneficiaries can leave money in the account. CMIIW.

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Re: Future US tax policy
« Reply #42 on: July 10, 2019, 09:43:22 AM »
Just pointing out that many middle class get a benefit from this even if it most likely was not their original intent. My IRA will out live me and most people I know.
Government pensions.
Feelings don't care about your facts

Offline CountValentine

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Re: Future US tax policy
« Reply #43 on: July 10, 2019, 10:00:34 AM »
Government pensions.
That is different.
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Offline CountValentine

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Re: Future US tax policy
« Reply #44 on: July 10, 2019, 10:02:48 AM »
And that part is not changing. What's changing is how long your beneficiaries can leave money in the account. CMIIW.
Correct but if they are forced to take it out quicker than they plan to that is a negative and another tax.
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Offline henche

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Re: Future US tax policy
« Reply #45 on: July 10, 2019, 10:05:31 AM »
I wonder if there could be a way to challenge it based on this. Bait and Switch by congress?

This is one of the reasons I do a regular and not a Roth.  I figure if I don't pay taxes now, worst case is I have to pay taxes along the way at some point. But if I pay taxes now, who is going to promise I won't have to pay taxes again on a rule change.

Offline CountValentine

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Re: Future US tax policy
« Reply #46 on: July 10, 2019, 10:07:13 AM »
This is one of the reasons I do a regular and not a Roth.  I figure if I don't pay taxes now, worst case is I have to pay taxes along the way at some point. But if I pay taxes now, who is going to promise I won't have to pay taxes again on a rule change.
Can we get a market update? @henche
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Offline skyguy918

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Re: Future US tax policy
« Reply #47 on: July 10, 2019, 10:13:50 AM »
Correct but if they are forced to take it out quicker than they plan to that is a negative and another tax.
I hear ya. I just can't imagine it's that big of an issue for so many people. Not to mention that I'm sure there will be new ways to mitigate the issue thought up.

Offline skyguy918

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Re: Future US tax policy
« Reply #48 on: July 10, 2019, 10:17:53 AM »
This is one of the reasons I do a regular and not a Roth.  I figure if I don't pay taxes now, worst case is I have to pay taxes along the way at some point. But if I pay taxes now, who is going to promise I won't have to pay taxes again on a rule change.
I like how you figured out a way to turn something that primarily hurts traditional IRA's (the only loss to IRA's from this is that they can't continue to grow tax-free for the beneficiary forever - there are no immediate adverse tax effects) into a reason to choose traditional IRA's.  ;D

Not paying taxes now due to uncertainty about future taxation is legitimate, but double taxation? Less so. Like a lot less so.

Offline henche

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Re: Future US tax policy
« Reply #49 on: July 10, 2019, 10:35:45 AM »
Can we get a market update? @henche

I actually quit all new and politics last year.  I have no idea what is going on, and could care less. 

Offline grodnoking

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Re: Future US tax policy
« Reply #50 on: July 10, 2019, 11:48:37 AM »
could care less.

couldn't care less

The proper way to express how you don't give a c$&* about something - you really don't care about something and it's impossible to not care any more. The common but incorrect variant "could care less" (which would technicallyimply that you do care about something) is widely used because of either a translation mistake into English, or those who blindly use phrases without taking a moment to understand their actual meaning

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I'm not who you think I am.

Offline CountValentine

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Re: Future US tax policy
« Reply #51 on: July 10, 2019, 11:58:18 AM »
couldn't care less

The proper way to express how you don't give a c$&* about something - you really don't care about something and it's impossible to not care any more. The common but incorrect variant "could care less" (which would technicallyimply that you do care about something) is widely used because of either a translation mistake into English, or those who blindly use phrases without taking a moment to understand their actual meaning

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What if he did mean he does care?
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Re: Future US tax policy
« Reply #52 on: July 10, 2019, 01:15:19 PM »
I actually quit all new and politics last year.  I have no idea what is going on, and could care less.

You and CM? What are you two up to?
I've been waiting over 5 years with bated breath for someone to say that!
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Offline CountValentine

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Re: Future US tax policy
« Reply #53 on: July 10, 2019, 01:19:57 PM »
You and CM? What are you two up to?
I think they are one in the same.
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Offline CountValentine

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Re: Future US tax policy
« Reply #55 on: July 28, 2019, 08:43:32 PM »
Deficit is running wild. I guess this last tax cut is paying for itself, NOT!!!
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Offline yitzgar

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Re: Future US tax policy
« Reply #56 on: July 28, 2019, 10:28:11 PM »
Deficit is running wild. I guess this last tax cut is paying for itself, NOT!!!
Or maybe spending has gone up?

Offline CountValentine

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Re: Future US tax policy
« Reply #57 on: July 28, 2019, 10:42:55 PM »
Or maybe spending has gone up?
Maybe but what isn't a maybe is the skyrocketing deficit. This happened with the R's controlling everything!
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Offline yitzgar

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Re: Future US tax policy
« Reply #58 on: July 28, 2019, 10:52:27 PM »
Maybe but what isn't a maybe is the skyrocketing deficit. This happened with the R's controlling everything!
Absolutely. This is one of the most frustrating things in politics nowadays.

Offline yitzgar

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Re: Future US tax policy
« Reply #59 on: July 28, 2019, 10:53:58 PM »
The main issues that I (and I believe a large segment of americans) care about, gets paid at most, lip service by some politicians to get votes, and then immediately ignored as soon as they get voted in.