What is there to stop the retirees from retrieving their eligible funds from the market at the end of this year when this goes into effect? The economy will surely suffer some more will it not?
What in your opinion is the effect of another mass exodus from the market when retirees hoard their money for fear of a 39.6% tax on it?
Asked by Anonymous at 10:40 AM on Sep. 22, 2010 in Politics & Current Events
Answer by yourspecialkid at 11:49 AM on Sep. 22, 2010
Answer by Farmlady09 at 11:03 AM on Sep. 22, 2010
Answer by itsmesteph11 at 11:05 AM on Sep. 22, 2010
Do you have any links that are more current? This one is from November of 2008.
Answer by QuinnMae at 10:43 AM on Sep. 22, 2010
Answer by sheli2007 at 11:23 AM on Sep. 22, 2010
Answer by Anonymous at 11:27 AM on Sep. 22, 2010
Sheli2007 I was under the impression that the regular 401k was being taxed when taken out already? And if you have a choice of getting a Roth 401k which you would pay the taxes for upfront on the money being put in and the money that you take out plus it's interest in the end will be tax free. Which would be a better choice in the long run.
Yes you are correct. I don't know what everyone is complaining about. Maybe they are talking about changing the excise tax from 10% to this 39.6%, where ever this percentage came from. Rumors.
Answer by momentofpeace at 1:20 PM on Sep. 22, 2010
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