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Subject:  Re: Cashing out. How bad will it hurt? Date:  9/5/2000  6:51 PM
Author:  gurdison Number:  39571 of 127513

<In addition to the Federal 10% penalty, California has a 2.5% penalty on premature distributions. If you are in the top federal bracket (only $283,150 MFJ) and live in taxifornia you will net less than 40% of a premature IRA distribution after taxes and penalties.>

And the earthquakes are a just an added bonus I guess?

Do California taxpayers consider it a fair system? You must be getting the best services in the country since you are paying the highest taxes? Or do your politicians have a stench every bit as rotten as the ones we have here in NJ?


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