Post Race!

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Originally Posted by homer13j

Attachment 186005

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Yeah, I was mighty surprised at the beatdown the Pats put on them last weekend. They should have kept running, that's the weakness of the Pats defense, and the strength of the Browns, but the Browns moved away from the run early.

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Originally Posted by Shaggy Hiker

That would be quite a change. The whole point of Roth accounts is that you've already been taxed on that money. If they taxed you on the disbursements, that would be double taxation. That's a much higher bar to cross, as being taxed up front is the sole reason that Roth accounts exist.

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There is precedent with the death tax.

It is a high bar, but there is precedent nonetheless.

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Originally Posted by Shaggy Hiker

That would be quite a change. The whole point of Roth accounts is that you've already been taxed on that money. If they taxed you on the disbursements, that would be double taxation. That's a much higher bar to cross, as being taxed up front is the sole reason that Roth accounts exist.

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You also don't have to pay taxes on any of the money earned from the Roth. Plus you can pull your money out at any time. For young people this is a great type of IRA. But so many want that initial tax break and go with traditional IRA's.

It's possible they could could make changes to the laws, it depends how bad they need money. But the government has a lot of other "lower bar" ways to increase revenue.

Yeah, remove the carried interest loophole, remove the distorting (though popular) deduction for mortgage interest. There are plenty of options better than taxing retirement savings.

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remove the carried interest loophole

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What's the carried interest loophole???

I don't think it applies to normal people at all. Last I looked it was a scheme that allows money managers to treat their income as capital gains for preferential taxation treatment.

That's it. It's straight up income by some of the wealthiest people in the country. The loophole allows them to pay taxes on it at the capital gains rate rather than as regular income, which it is. That saves them a HUGE amount.

Trump said he'd close it, but didn't even try. It was in the Inflation Reduction Act, but dropping that was the price Kyrsten Sinema required for her vote.

We must rise up and defeat the owls.

Owl take up that call.

Just don’t commit any fowls.

Or make any cheep shots.

I guess you could chicken out.

But don’t post a giant goose egg.

Ok, I’ve beaten it to death. Omelette it stop.

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I don't think it applies to normal people at all.

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I appreciate that you group me in with the normal people.

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Originally Posted by wes4dbt

I appreciate that you group me in with the normal people.

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Cute. I had written "honest people" at first and then hurriedly adjusted it before posting. Crooks seem to be a protected group and I didn't want to risk a ban for intolerance. Oops! Perhaps the correct term now is "differently moralled" or something?

It's the shepherd lobby. They're always protecting the crooks.

I don't give a hoot about all those puns, though.

Owl be back, later.