The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: E Bonds - Advice please||Date: 7/25/2011 6:36 PM|
|Author: JAFO31||Number: 69335 of 81338|
<<<I'd also like to see another revamp of the tax code, 1986 style (without the devestating real estate crash - lets think any changes through first). Simplify it greatly - one $5,000 exemption per person is tax free (family of 4 gets $20,000 tax free) and then progressive rates from there. Vastly reduce the credits and deductions. Give a modest deduction for interest dividends to encourage savings - $1,000 per person. Perhaps keep a lower rate for capital gains, but at the same time, maybe cap it ($50,000 a year?? something low enough that retirees selling stock wouldn't meet the cap)>>>
"I'm a proponent of the Fair Tax because it eliminates tax returns and puts the power to pay a tax or not to pay a tax in the hands of the consumer. But Washington will never go for it. Maybe a compromise is to tax those evil corporations and abolish all income taxes for individuals. Then the Democrats can continue with their rhetoric while the consumers still basically get to decide whether they pay taxes or not since the corporate taxes are passed onto us anyway. Just a thought..."
That is a nice way to devalue Roth IRAs and I am sure a 30% (29.87%, IIRC) sales tax will do wonders for the economy.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|