Quote:
Originally Posted by Michael G.
HR 8331 would waive required minimum distributions for the 2022 tax year. That’s a nice way of saying Uncle Sam would not force older folks to withdraw more money than necessary from their retirement accounts this year. 
Contact your state Representative.
Daniel Webster in Marion County |
I am not clear on this because the wording of the above quoted post seems to be unclear.
"It depends on what
is is."
A few posters in this thread are commenting that they have already paid their 2022 RMD or most of it, so then what? A can of worms? The expense of rebates in some form?
What "is" the meaning of 2022? What is the meaning of "this" year?
The RMD is based on the IRA balance on December 31 and paid in the year following.
Therefore, surely, what this bill is saying is that no RMD would be due in 2023 -- based on the 2022 end-of-year balance.
That is the only way this idea could make sense.
And another thing that we retirees need to be clear on:
Sure they act like they want to keep us retired voters happy -- but -- anyone who is thinking through what some of them would really like to do to us knows that highly publicized "promise" (executive order) to "improve and protect Medicare" was a Trojan Horse.
It was a Trojan Horse because........
The plots to privatize Medicare and also Social Security have been in the works for a long time, so claiming to protect them all depends on what that "protection"
is.
Our personal lives are affected every day by who we decide to give power over us. We have to be careful to look beyond the surface to what we could be giving up if privatization is railroaded through. That could happen in the next few years, so be careful what you wish for. Lobbyists have deep pockets and some in power are for sale.
Many people are caught up now in emotional responses that are being so effectively stoked by power-grabbers. But hidden in all that in-our-faces surface stuff -- private healthcare company wolves are drooling at the door.
Cassanda Boomer
PS: Besides, how likely is it that cutting us loose by privatizing Medicare and SS would actually save the government money. They would just think they had more to spend. We who are socially liberal and fiscally conservative get more concerned every day.