The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Is your 401(k) Inadequate For Retirement||Date: 8/3/2008 5:02 PM|
|Author: ChurchyLaFemme||Number: 13789 of 20078|
I do, however, like the idea of everyone who earns income paying the same rate of taxation on earned income. If low-income people were all bitten by the IRS, we'd have a lot more people complaining about runaway spending by Congress. That would be a good thing.
If all people were taxed at the same rate, there'd be no real need for the IRS since most of its job is enforcing arcane tax rules.
Besides, they're already burdened by FICA. You have to be making a fair amount of money before income taxes exceed that.
And am I correct in assuming that you would tax UNearned income at an even lower rate than earned income?
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|