No. of Recommendations: 1
So if a flat tax is imposed, then pretty much all of our financial planning is for nought? Tax deferred and regular investments will pretty much be the same thing, and all those people who have paid taxes throughout their lives, saved up in IRAs, would suddenly find that in retirement that they their consumption taxes on everything own would quadruple from their expected retirement sales tax rates.

Although, it could push everyone to retire in South America, instead of the warm, sunny states ... which means there will be fewer 15-mph Cadillacs for my Mini Cooper to swerve around ...

Although there are benefits, it looks like a plan to buy young peoples' votes with old peoples' money.

Hrmmmm?

M.
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