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.
Government pensions.
And that part is not changing. What's changing is how long your beneficiaries can leave money in the account. CMIIW.
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.
Correct but if they are forced to take it out quicker than they plan to that is a negative and another tax.
Can we get a market update? @henche
could care less.
couldn't care lessThe 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-Urban Dictionary
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?
Deficit is running wild. I guess this last tax cut is paying for itself, NOT!!!
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!