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re: Emergency Fund
Posted on 2/25/10 at 9:59 am to TheHiddenFlask
Posted on 2/25/10 at 9:59 am to TheHiddenFlask
quote:It will be done using the "put a live frog in a pot and gradually turn up the heat" method, IMO. At first, only those taxpayers who earn, say $1,000,000+ will have to pay taxes on Roth earnings.
That will be the day that I sell the farm and show myself the way out the door.
Then, $500,000+....and so on. Once the precedent is set, the water just keeps getting hotter and then it's too late.
3
Posted on 2/25/10 at 10:12 am to LSURussian
quote:
It will be done using the "put a live frog in a pot and gradually turn up the heat" method, IMO. At first, only those taxpayers who earn, say $1,000,000+ will have to pay taxes on Roth earnings.
Then, $500,000+....and so on. Once the precedent is set, the water just keeps getting hotter and then it's too late.
No doubt that is what will happen, if it does.
Have you ever read the book "Atlas Shrugged"?
Posted on 2/25/10 at 10:21 pm to LSURussian
quote:
It will be done using the "put a live frog in a pot and gradually turn up the heat" method, IMO. At first, only those taxpayers who earn, say $1,000,000+ will have to pay taxes on Roth earnings.
First they came for the Socialists, and I did not speak out -- Because I was not a Socialist.
Then they came for the Trade Unionists, and I did not speak out -- Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out -- Because I was not a Jew.
Then they came for me -- and there was no one left to speak for me.
Posted on 2/26/10 at 12:38 pm to LSURussian
quote:
It will be done using the "put a live frog in a pot and gradually turn up the heat" method, IMO.
I hear what you are saying and you are certainly not alone, but I think the political fallout from such an egregious bait-and-switch would be too great. I can't see the millions of people who have planned their retirement under one set of rules collectively stand by and let the rug be pulled out from under them. Those voting for this would be committing political suicide.
More likely are ordinary income tax increases, repeal of capital gains taxes, etc.
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