Democrats Want to End Lucrative Retirement Loophole
Sep 11, 2022 07:42:42 #
Sep 11, 2022 08:14:06 #
Bad Bob wrote:
https://www.yahoo.com/finance/news/democrats-want-end-lucrative-retirement-130038402.html
Set the precedent with the "rich" then go after the middle class.
Sep 11, 2022 08:29:27 #
Bad Bob wrote:
https://www.yahoo.com/finance/news/democrats-want-end-lucrative-retirement-130038402.html
Hey Bob, would you be so kind as to explain this lucrative loophole in layman's language as I'm sure someone with your level of investment expertise is intimately knowledgeable about it?
Sep 11, 2022 11:00:37 #
Parky60 wrote:
Hey Bob, would you be so kind as to explain this lucrative loophole in layman's language as I'm sure someone with your level of investment expertise is intimately knowledgeable about it?
The article he linked to clearly explains the loophole.
Sep 11, 2022 11:05:35 #
Kevyn wrote:
The article he linked to clearly explains the loophole.
Then why don't YOU give me the layman's version kevie? It doesn't explain where these pre-tax contributions come from.
Sep 11, 2022 13:21:21 #
Bad Bob
Loc: Virginia
Parky60 wrote:
Hey Bob, would you be so kind as to explain this lucrative loophole in layman's language as I'm sure someone with your level of investment expertise is intimately knowledgeable about it?
The article is in layman's language.
Sep 11, 2022 14:13:16 #
Bad Bob wrote:
The article is in layman's language.
Then please explain where the pre-tax contributions come from.
Sep 11, 2022 16:19:36 #
Parky60 wrote:
Then why don't YOU give me the layman's version kevie? It doesn't explain where these pre-tax contributions come from.
They are not pre tax contributions, it is an investment where the returns and Capitol gains are not taxed as they are as income in a traditional IRA. This was supposed to be income limited and will again.
Sep 11, 2022 16:32:53 #
Kevyn wrote:
They are not pre tax contributions, it is an investment where the returns and Capitol gains are not taxed as they are as income in a traditional IRA. This was supposed to be income limited and will again.
Neither you nor Boob have a clue how they work do you? I'LL tell you in layman's language.
Pre-tax contributions from an IRA -- typically a 401k -- are used to fund a Roth IRA. When the IRA is converted to a Roth IRA the taxes are paid on it and then the Roth IRA grows tax free.
By the way Kevie, they're capitAl gains not capitOl gains.
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.