Going after retirement account monies and what you pass onto your kids

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WIldWIllieCat
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Re: Going after retirement account monies and what you pass onto your kids

Post by WIldWIllieCat » May 3rd, 2021, 12:01 pm

a 2% increase on the top tax bracket doesn't feel punitive, and I appreciate the effort to "equalize" the capital gains tax so we're not taxing hard work and innovation at a higher rate than investment

reasonable minds can disagree I suppose
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tmcats
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Pick 'Em

Post by tmcats » May 3rd, 2021, 2:19 pm

it's not a 2% increase. it's a 7.03% increase. 39.6 - 37 / 37 = 7.03%

Biden’s tax plan would raise the top income tax rate to 39.6%. That was the highest rate before the 2017 Tax Cuts and Jobs Act, which lowered it to the current 37%.
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katlander
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Post by katlander » May 3rd, 2021, 10:14 pm

WIldWIllieCat wrote:
May 3rd, 2021, 11:16 am
you're all over the place katlander

why are you assuming that "these people don't know how to handle money or manage their lives"

I, honest to god, have no idea what point you're trying to make any more
Not sure what you are unable to comprehend. I have a feeling you don't do well in econ or finance. My post makes perfect sense. To paraphrase, 65K is a pretty decent income. If you know how to manage your money you can do well on 65K. To be able to make a good living and enjoy all the benefits we have with no income tax is a sweet gig. A family of 4 making 100K will not have a large tax liability. You should thank your lucky stars and be grateful to those who pay your way. Hopefully this is not too deep for you.

I think you need to listen to Dave Ramsey because I have a feeling you don't have a clue about managing your earnings.

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