John Pitera's Market Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: richardred who wrote (13994)	4/9/2013 9:15:57 AM
From: robert b furman	Read Replies (1) of 33421

Hi Rich and John, The government is going after those who have had exceptional appreciation in a tax free instrument. 3 million is a huge cap , at least compared to the average "working mans" level. pionline.com I wish this proposed cap was a problem to me <smile> Can you imagine being 70 and the minimum manditory distribution kicks in? I'm not sure what the mortality tables are now for a 70 year old male but say the tables indicate you are going to live to 90 so 20 years times 12 months = 240 payments. 3,000,000 / 240 = monthy income of 12500 x .40 tax bracket = 7500 aftyer tax pocket change monthly. That's enough to eat at the country club and pay your taxes on the 8,000 sp foot retirement home. Not sure but Romney had over 100 million in his.That was quite well funded due to appreciation and tax free compounding really works as numbers get bigger. Wonder what estate tax on a 401k balance is? Bob

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next