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Congress Is Coming for Your IRA The Secure Act would upend 20 years of retiremen

Congress Is Coming for Your IRA The Secure Act would upend ...
Non sequitur
  07/11/19
this article seems like a histrionic overreaction to a bill ...
A Jurisprudence is Performed
  07/11/19
"Gays just want equal rights. Love is love. We're not g...
'''''"""
  07/11/19
...
and when i started to squeeze the bar brother
  07/11/19
Bake the fucking cake, bigot
Hitler Did Nothing Wrong
  07/11/19
...
Holding Back The Years
  07/11/19
...
..:;;;.,;:..,;:,.,.,:;:..;:;..,..,::;;
  07/11/19
yeah and "conservatives" did shit-all to prevent t...
A Jurisprudence is Performed
  07/11/19
"The vote was 417-3."
ESL TM..,..;;.
  07/11/19
...
Hysterical bitchmade deepstate faggot
  07/11/19
Yeah they always stop short of crazy not just testing the wa...
gibberish
  07/11/19
Just wait until 30 years from now when the country is majori...
Rafael Ironside, FIVE TIME ATP Year-End #1
  07/11/19
99% sure this will happen. This is the end game of all this ...
.,.,,...;.;,.,.,:,,:,...,:;:,...,:,.,.:..:.,:.::,.
  07/11/19
...
Chad Nationalism
  07/11/19
...
Hysterical bitchmade deepstate faggot
  07/11/19
...
Joff Ballo
  07/11/19
...
Hysterical bitchmade deepstate faggot
  07/11/19
...
,.,..,.,..,.,.,.,..,.,..,..,.,.,,..,.,,.
  07/11/19
i'd like to know how many people it does affect i certainly...
sealclubber
  07/11/19
We're just talking civil unions here, nothing zany so just c...
gibberish
  07/11/19
wasn't the civil union thing a compromise thrown out by mode...
President of the Howdy Doody Circus Army
  07/11/19
This is totally different. As someone else ITT said, no one ...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
cr he sounds like a boomer hawking his book
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
jfc - it is worse than i imagined http://phildemuth.com/ h...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
photo by ben Stein is the absolute fucking icing on the cake...
A Jurisprudence is Performed
  07/11/19
...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
lmao.
Oh, you travel?
  07/11/19
...
fantano
  07/11/19
Yeah I saw the headline and was like ah fuck and then I read...
President of the Howdy Doody Circus Army
  07/11/19
...
and when i started to squeeze the bar brother
  07/11/19
Tax revolt coming in 3...2...1...
gibberish
  07/11/19
Silly goy, “Withholding” makes that impossible
..:;;;.,;:..,;:,.,.,:;:..;:;..,..,::;;
  07/11/19
lol never
libcrusher180
  07/11/19
Cry me a river, this money should be 100% confiscated upon d...
fantano
  07/11/19
...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
...
A Jurisprudence is Performed
  07/11/19
JFC you're demented
Hysterical bitchmade deepstate faggot
  07/11/19
Lol yes punish people who’ve worked hard to provide fo...
nutella
  07/11/19
govt needs revenue. no better place to get it from than a co...
fantano
  07/11/19
This is how muds/failures think
Chad Nationalism
  07/11/19
...
,..,;,,..,.,.,.,;.,;.,,..,,..,,;,,....,,;.;..,.;,.
  07/11/19
Wealthy heirs may have to pay more taxes!!! Who cares.
George Dickel, Esq.
  07/11/19
...
fantano
  07/11/19
'wealthy' is a relative term.
gibberish
  07/11/19
didn't peg u for a trust fund boi
A Jurisprudence is Performed
  07/11/19
...
,..,;,,..,.,.,.,;.,;.,,..,,..,,;,,....,,;.;..,.;,.
  07/11/19
>[if] middle income parents . . . inherit a $500,000 IRA ...
President of the Howdy Doody Circus Army
  07/11/19
“In exchange for its windfall under the Secure Act, Co...
GS-14
  07/11/19
a lot of bitter poors itt
gordie
  07/11/19
So you admit congress's action here is a straightforward red...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
They will totally stop after going after the children of the...
Hysterical bitchmade deepstate faggot
  07/11/19
Date: July 11th, 2019 2:13 PM Author: JFC This is totall...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
, he tried to tell himself as Speaker Ocasio-Cortez moved a ...
Hysterical bitchmade deepstate faggot
  07/11/19
whether this passes or not doesn't make it easier or harder ...
Two 115-IQ Redditors stealing in Golden Balls
  07/11/19
Its a canary in the coal mine, brother
Hysterical bitchmade deepstate faggot
  07/11/19
cr. histrionic screeching is all this is.
fantano
  07/11/19
But think of the high-earning adult daughter!
Diamond Dallas Chad
  07/11/19
...
,..,;,,..,.,.,.,;.,;.,,..,,..,,;,,....,,;.;..,.;,.
  07/11/19
Sounds pretty good to me. Letting tax deferral extend for...
settle down chink
  07/11/19
how do you feel about the step up?
.;.;.;.;.;....;.;;.;.;.;.;;.;.;.;.;.
  07/11/19
step up in basis is also pure horseshit. step up in basis +...
settle down chink
  07/11/19
...
fantano
  07/11/19
this is overblown. something like 90% of inherited IRA's are...
.;.;.;.;.;....;.;;.;.;.;.;;.;.;.;.;.
  07/11/19


Poast new message in this thread



Reply Favorite

Date: July 11th, 2019 11:49 AM
Author: Non sequitur

Congress Is Coming for Your IRA

The Secure Act would upend 20 years of retirement planning and stick it to the middle class.

By Philip DeMuth

July 9, 2019 7:06 pm ET

PHOTO: CHAD CROWE

Like grave robbers opening King Tut’s tomb, Congress can’t wait to get its hands on America’s retirement-account assets. The House passed the Setting Every Community Up for Retirement Enhancement Act, known by the acronym Secure, in May. The vote was 417-3. The Secure Act is widely expected to pass the Senate by unanimous consent. While ostensibly helping Americans save for retirement, the bill would actually reduce the value of all retirement savings plans: individual retirement accounts, 401(k)s, Roth IRAs, the works.

The main problem with the Secure Act is that it eliminates the stretch IRA, the fixed star in the financial-planning firmament since 1999. The stretch IRA lets savers leave their retirement accounts to children, grandchildren or other beneficiaries. Under current rules, the recipients can parcel out the required minimum distributions from the accounts over the course of their actuarial lifetimes. Payouts tend to be relatively small for children but grow in size over the decades until the inherited IRA might comfortably provide for the child’s retirement through the power of tax-deferred compounding. A parent could die with the knowledge that, whatever vicissitudes their children might experience in life, they won’t have to worry about retirement.

Congress wants to kill this. The Secure Act gives nonspouse beneficiaries 10 years to pull out all the money in an IRA. The effect would be to make more of an IRA subject to higher taxes sooner, as distributions are made in supersize chunks. As much as one-third more of an inherited IRA would get gobbled up by taxes than under current rules. When the Tax Cuts and Jobs Act expires in 2025, taxes will rise across the board. If President Trump signs the Secure Act into law, the stage will be set for a taxpocalypse sometime in the next decade.

In exchange for its windfall under the Secure Act, Congress will push back the age at which retirees must take their first required minimum IRA distributions from 70½ to 72. This isn’t the deal American savers were promised when they made contributions to their IRAs the last 20 years. Before, the optimal approach was for savers to leave their IRAs to their children or grandchildren and stretch the payouts over decades.

Under the Secure Act, an IRA owner could still leave the account to a surviving spouse, who’d remain exempt from the 10-year clock. But the widow would be paying taxes in the higher “filing single” bracket. The bracket can easily jump from 12% to 25% or from 24% to 35% as the mandatory payout ratios automatically increase with age. For example, the required minimum distribution for a 70-year-old is 3.7% of the retirement-account balance; for a 90-year-old it is 8.8%.

Should a $1 million IRA pass to a high-earning adult daughter, at best she would have to take payouts adding $100,000 of annual income on top of her salary for a decade. If she lives in a high-tax state, half the annual payout’s value could be lost to taxes.

It gets worse. The Secure Act would be a college planning nightmare for middle-income parents. If the parents of college-age children inherit a $500,000 IRA, the resulting highly taxed mandatory distributions—say, $50,000 a year for 10 years—would make them richer on paper than they actually are, eviscerating their ability to qualify for need-based financial aid. If those parents decide to postpone taking the distributions for four years to avoid the financial-aid effect, they would need to double up on distributions after graduation to compensate, which would land them in a higher tax bracket. If the grandparents skip a generation and leave the IRA directly to the college-bound grandchild, the “kiddie tax” would require the distributions to be taxed at the parents’ rates. Whichever way the family turns, they lose.

The Secure Act would be an estate-planning catastrophe for people with significant IRAs. It would take the sensible planning done up until now and stand it on its head. In the past, an IRA owner might have established a trust if his intended beneficiaries were young. Under the Secure Act, IRAs will no longer be subject to annual required minimum distributions, so an IRA of $1 million placed in a trust for the benefit of an 8-year-old could conceivably receive nothing for nine years. Then at year 10, by law, the IRA would have to pay out everything. Now the young beneficiary turns 18, and suddenly he gets a windfall. With a decade of additional compound growth, the original IRA could have grown to $2 million or more. All is delivered in one year, so most of it is taxed in the highest brackets. If the trust language allows the trustee to keep the money in the trust, it will be taxed at the exorbitant federal trust tax rate of 37% on income over $12,500. And don’t forget state taxes.

The insurance industry loves the Secure Act’s mandate that annuities be offered as a payout option in all retirement plans. Insurance companies sold more than $230 billion worth of annuities in 2018, and they would like to push that figure higher. Annuitizing retirement-plan assets is generally a bad idea unless the retiree needs all the cash for living expenses and can find a very low-cost annuity that is indexed to CPI-E—the inflation rate facing senior citizens that includes their increasingly expensive medical care. Unfortunately, such an annuity doesn’t exist.

The mandatory offer of an annuity is a first step that could lead to the mandatory annuitization of all retirement accounts. This would shoehorn the distributions into higher brackets, accelerate the collection of tax revenue, and eliminate the “problem” of the inherited IRA. Best of all, politicians would get to accomplish all this without voting to raise taxes.

Ted Cruz of Texas is the Senate’s main holdout against the Secure Act. His concern is that the House version dropped a niche provision that would allow tax-advantaged 529 Plans to pay for home schooling. He might be able to hold out, but it’ll be a stretch.

Mr. DeMuth is author of “The Overtaxed Investor: Slash Your Tax Bill and Be a Tax Alpha Dog.”

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514820)



Reply Favorite

Date: July 11th, 2019 11:50 AM
Author: A Jurisprudence is Performed (Dictated But Not Read)

this article seems like a histrionic overreaction to a bill that probably affects .1% of IRA holders, actually, their heirs

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514826)



Reply Favorite

Date: July 11th, 2019 11:52 AM
Author: '''''"""

"Gays just want equal rights. Love is love. We're not going to push the agenda further than that! Promise!"

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514839)



Reply Favorite

Date: July 11th, 2019 11:54 AM
Author: and when i started to squeeze the bar brother (http://youtu.be/sqLsqHctThU)



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514854)



Reply Favorite

Date: July 11th, 2019 11:57 AM
Author: Hitler Did Nothing Wrong

Bake the fucking cake, bigot

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514875)



Reply Favorite

Date: July 11th, 2019 12:46 PM
Author: Holding Back The Years



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515191)



Reply Favorite

Date: July 11th, 2019 1:35 PM
Author: ..:;;;.,;:..,;:,.,.,:;:..;:;..,..,::;;




(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515548)



Reply Favorite

Date: July 11th, 2019 12:00 PM
Author: A Jurisprudence is Performed (Dictated But Not Read)

yeah and "conservatives" did shit-all to prevent that or even slow it down. But holy shit this bill might result in a slightly higher marginal tax rate for millionaire heiresses so I'm sure the GOP is going to stop at absolutely nothing to shut it down.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514892)



Reply Favorite

Date: July 11th, 2019 2:14 PM
Author: ESL TM..,..;;. (🦈)

"The vote was 417-3."

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515791)



Reply Favorite

Date: July 11th, 2019 12:44 PM
Author: Hysterical bitchmade deepstate faggot



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515178)



Reply Favorite

Date: July 11th, 2019 11:52 AM
Author: gibberish

Yeah they always stop short of crazy not just testing the water here

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514841)



Reply Favorite

Date: July 11th, 2019 12:00 PM
Author: Rafael Ironside, FIVE TIME ATP Year-End #1

Just wait until 30 years from now when the country is majority minority and having lucrative retirement accounts is perpetuating racial wealth imbalances and they are heavily taxed.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514895)



Reply Favorite

Date: July 11th, 2019 5:46 PM
Author: .,.,,...;.;,.,.,:,,:,...,:;:,...,:,.,.:..:.,:.::,.


99% sure this will happen. This is the end game of all this “privilege” talk now. Libs are insane immature babies with zero self-control and see saved money as theirs for the taking. It’s shocking how many of them live paycheck to paycheck.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38516757)



Reply Favorite

Date: July 11th, 2019 8:41 PM
Author: Chad Nationalism



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517634)



Reply Favorite

Date: July 11th, 2019 8:44 PM
Author: Hysterical bitchmade deepstate faggot



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517654)



Reply Favorite

Date: July 11th, 2019 8:46 PM
Author: Joff Ballo



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517667)



Reply Favorite

Date: July 11th, 2019 8:45 PM
Author: Hysterical bitchmade deepstate faggot



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517662)



Reply Favorite

Date: July 11th, 2019 11:53 AM
Author: ,.,..,.,..,.,.,.,..,.,..,..,.,.,,..,.,,.




(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514848)



Reply Favorite

Date: July 11th, 2019 11:55 AM
Author: sealclubber

i'd like to know how many people it does affect

i certainly don't treat my ira as a vehicle to make my children's retirement come earlier or be more lucrative

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514860)



Reply Favorite

Date: July 11th, 2019 11:56 AM
Author: gibberish

We're just talking civil unions here, nothing zany so just chilax.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514864)



Reply Favorite

Date: July 11th, 2019 12:07 PM
Author: President of the Howdy Doody Circus Army

wasn't the civil union thing a compromise thrown out by moderate straights, not something gay people ever asked for?

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514955)



Reply Favorite

Date: July 11th, 2019 2:13 PM
Author: Two 115-IQ Redditors stealing in Golden Balls

This is totally different. As someone else ITT said, no one uses IRAs as an inheritance vehicle. Current law just means that heirs get a lucky windfall if the holder dies sooner than expected

Congress may well actually come after IRAs in the future but this is not a "first step" toward that

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515788)



Reply Favorite

Date: July 11th, 2019 11:56 AM
Author: Two 115-IQ Redditors stealing in Golden Balls

cr he sounds like a boomer hawking his book

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514862)



Reply Favorite

Date: July 11th, 2019 11:59 AM
Author: Two 115-IQ Redditors stealing in Golden Balls

jfc - it is worse than i imagined

http://phildemuth.com/

http://phildemuth.com/wp-content/uploads/2016/03/Phil-DeMuth.png

Phil DeMuth is Managing Director at Conservative Wealth Management, LLC, where he enjoys working with high net worth clients and saving them from the depredations of the financial services industry.

Phil was valedictorian of his class at the University of California at Santa Barbara, then went on for his master’s in communication and a Ph.D. in clinical psychology. A psychologist and investment advisor, Phil has written for the Wall Street Journal, Barron’s, Forbes, the Journal of Financial Planning, Human Behavior and Psychology Today , and is the author of nine books on investing, most co-authored with his pal, economist Ben Stein. His opinions have been quoted in the New York Times, the Financial Times, Yahoo! Finance, On Wall Street, Fortune, Research Magazine, Investor’s Business Daily, Motley Fool, theStreet.com and he has been seen on various TV shows, including CNBC’s Worldwide Exchange, On the Money, Squawk Box and Closing Bell, as well as Fox & Friends, Wall Street Week, and Consuelo Mack WealthTrack.

Media Inquiries

Phil DeMuth Ph.D. is happy to share his perspectives on investing with the media.

Speaking Engagements

Phil DeMuth loves speaking to groups about investing. His fee is $10,000 plus expenses.

phil@phildemuth.com

323 876 3300

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514883)



Reply Favorite

Date: July 11th, 2019 12:00 PM
Author: A Jurisprudence is Performed (Dictated But Not Read)

photo by ben Stein is the absolute fucking icing on the cake here

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514894)



Reply Favorite

Date: July 11th, 2019 12:01 PM
Author: Two 115-IQ Redditors stealing in Golden Balls



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514908)



Reply Favorite

Date: July 11th, 2019 12:01 PM
Author: Oh, you travel?

lmao.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514901)



Reply Favorite

Date: July 11th, 2019 11:56 AM
Author: fantano (ggtp)



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514866)



Reply Favorite

Date: July 11th, 2019 12:06 PM
Author: President of the Howdy Doody Circus Army

Yeah I saw the headline and was like ah fuck and then I read the article and was basically like "oh so my kids will have slightly less of a baller life after i die"

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514946)



Reply Favorite

Date: July 11th, 2019 11:51 AM
Author: and when i started to squeeze the bar brother (http://youtu.be/sqLsqHctThU)



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514832)



Reply Favorite

Date: July 11th, 2019 11:51 AM
Author: gibberish

Tax revolt coming in 3...2...1...

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514838)



Reply Favorite

Date: July 11th, 2019 11:57 AM
Author: ..:;;;.,;:..,;:,.,.,:;:..;:;..,..,::;;


Silly goy, “Withholding” makes that impossible

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514868)



Reply Favorite

Date: July 11th, 2019 11:57 AM
Author: libcrusher180 (😎)

lol never



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514874)



Reply Favorite

Date: July 11th, 2019 11:59 AM
Author: fantano (ggtp)

Cry me a river, this money should be 100% confiscated upon death of the holder and his surviving spouse. Barring that, this seems fine. Won't someone think of the children inheriting a 500k IRA! LJL

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514882)



Reply Favorite

Date: July 11th, 2019 11:59 AM
Author: Two 115-IQ Redditors stealing in Golden Balls



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514887)



Reply Favorite

Date: July 11th, 2019 12:00 PM
Author: A Jurisprudence is Performed (Dictated But Not Read)



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514896)



Reply Favorite

Date: July 11th, 2019 12:45 PM
Author: Hysterical bitchmade deepstate faggot

JFC you're demented

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515185)



Reply Favorite

Date: July 11th, 2019 2:20 PM
Author: nutella

Lol yes punish people who’ve worked hard to provide for their children.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515832)



Reply Favorite

Date: July 11th, 2019 8:32 PM
Author: fantano (ggtp)

govt needs revenue. no better place to get it from than a completely unearned inheritance

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517580)



Reply Favorite

Date: July 11th, 2019 8:43 PM
Author: Chad Nationalism

This is how muds/failures think

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517646)



Reply Favorite

Date: July 11th, 2019 2:33 PM
Author: ,..,;,,..,.,.,.,;.,;.,,..,,..,,;,,....,,;.;..,.;,.




(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515905)



Reply Favorite

Date: July 11th, 2019 11:59 AM
Author: George Dickel, Esq. (The morning sun has vanquished the horrible night )

Wealthy heirs may have to pay more taxes!!!

Who cares.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514889)



Reply Favorite

Date: July 11th, 2019 12:06 PM
Author: fantano (ggtp)



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514948)



Reply Favorite

Date: July 11th, 2019 12:07 PM
Author: gibberish

'wealthy' is a relative term.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514959)



Reply Favorite

Date: July 11th, 2019 12:46 PM
Author: A Jurisprudence is Performed (Dictated But Not Read)

didn't peg u for a trust fund boi

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515193)



Reply Favorite

Date: July 11th, 2019 2:34 PM
Author: ,..,;,,..,.,.,.,;.,;.,,..,,..,,;,,....,,;.;..,.;,.




(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515909)



Reply Favorite

Date: July 11th, 2019 12:06 PM
Author: President of the Howdy Doody Circus Army

>[if] middle income parents . . . inherit a $500,000 IRA

I'm sure this happens a lot.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38514942)



Reply Favorite

Date: July 11th, 2019 12:38 PM
Author: GS-14

“In exchange for its windfall under the Secure Act, Congress will push back the age at which retirees must take their first required minimum IRA distributions from 70½ to 72. This isn’t the deal American savers were promised when they made contributions to their IRAs the last 20 years.”

This guy needs to eat a bullet. An extra year and a half of tax free growth would be a huge boon for middle class savers. Finance Jews are lobbying against this because they want to get their hands on reinvested RMDs sooner. Dumb, senile boomers are active managers’ best customers.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515133)



Reply Favorite

Date: July 11th, 2019 1:38 PM
Author: gordie

a lot of bitter poors itt

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515570)



Reply Favorite

Date: July 11th, 2019 2:08 PM
Author: Two 115-IQ Redditors stealing in Golden Balls

So you admit congress's action here is a straightforward redistribution away from wealthy heirs, and not as the boomer author claims GUBMIT IS CUMMING FOR YOU"RE IRA

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515761)



Reply Favorite

Date: July 11th, 2019 2:09 PM
Author: Hysterical bitchmade deepstate faggot

They will totally stop after going after the children of the wealthy.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515773)



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Date: July 11th, 2019 2:14 PM
Author: Two 115-IQ Redditors stealing in Golden Balls

Date: July 11th, 2019 2:13 PM

Author: JFC

This is totally different. As someone else ITT said, no one uses IRAs as an inheritance vehicle. Current law just means that heirs get a lucky windfall if the holder dies sooner than expected

Congress may well actually come after IRAs in the future but this is not a "first step" toward that

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515788)

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515790)



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Date: July 11th, 2019 2:29 PM
Author: Hysterical bitchmade deepstate faggot

, he tried to tell himself as Speaker Ocasio-Cortez moved a bill through the House that taxes 401k payouts over $500 at 75%.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515875)



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Date: July 11th, 2019 4:45 PM
Author: Two 115-IQ Redditors stealing in Golden Balls

whether this passes or not doesn't make it easier or harder for her to do it

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38516558)



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Date: July 11th, 2019 4:53 PM
Author: Hysterical bitchmade deepstate faggot

Its a canary in the coal mine, brother

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38516582)



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Date: July 11th, 2019 8:44 PM
Author: fantano (ggtp)

cr. histrionic screeching is all this is.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517658)



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Date: July 11th, 2019 2:31 PM
Author: Diamond Dallas Chad (💎🙌💎)

But think of the high-earning adult daughter!

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515896)



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Date: July 11th, 2019 2:34 PM
Author: ,..,;,,..,.,.,.,;.,;.,,..,,..,,;,,....,,;.;..,.;,.




(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38515912)



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Date: July 11th, 2019 6:14 PM
Author: settle down chink (earl)

Sounds pretty good to me.

Letting tax deferral extend forever through leaving IRA's, deferring capital gains on investment income, prop 13 for property tax is all boomer bullshit.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38516886)



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Date: July 11th, 2019 6:48 PM
Author: .;.;.;.;.;....;.;;.;.;.;.;;.;.;.;.;.


how do you feel about the step up?

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517050)



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Date: July 11th, 2019 8:22 PM
Author: settle down chink (earl)

step up in basis is also pure horseshit. step up in basis + no property tax reassessment = boomer generational theft in CA.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517517)



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Date: July 11th, 2019 8:42 PM
Author: fantano (ggtp)



(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517641)



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Date: July 11th, 2019 6:47 PM
Author: .;.;.;.;.;....;.;;.;.;.;.;;.;.;.;.;.


this is overblown. something like 90% of inherited IRA's are cashed out immediately.

for those with large IRA's that actually care about the stretch, all this will do is cause them to go back to using charitable remainder trusts. this was the technique before the stretch existed. they can name a charitable remainder trust as the beneficiary, pay zero tax on the IRA at death, and income goes to the kids for life, just like the stretch.

if they want to go further, they can have the income stream that comes out of the CRT pay premiums for life insurance on their kids' lives, and then pass that tax-free insurance money on to the grandchildren.

now the government gets even less money.

(http://www.autoadmit.com/thread.php?thread_id=4300505&forum_id=2#38517038)