Re:Sweeping Reform Would Tax Capital Gains Like Ordinary Income
by deanalevitt on Sunday April 07, 2019 @12:18PM
(#19597756)
How will this impact retirement plans?
Unless I'm reading it wrong, the premise is that deferring taxation allows for wealth to grow "unfairly" and that the annual growth should be taxed annually. Wouldn't this decimate retirement funds, increasing the risk of investing in stocks and put even more pressure on Americans who already likely to outlive their retirement savings?
I know it talks about only taxing the 0.1% but that doesn't appear sound to me. I'm skeptical. I'd feel better if the proponents of this actually addressed the benefits of a lower capital gains tax and how their plan would maintain these benefits.
Unless I'm reading it wrong, the premise is that deferring taxation allows for wealth to grow "unfairly" and that the annual growth should be taxed annually. Wouldn't this decimate retirement funds, increasing the risk of investing in stocks and put even more pressure on Americans who already likely to outlive their retirement savings?
I know it talks about only taxing the 0.1% but that doesn't appear sound to me. I'm skeptical. I'd feel better if the proponents of this actually addressed the benefits of a lower capital gains tax and how their plan would maintain these benefits.