Talk of The Villages Florida - View Single Post - What is a 'fair share'?
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Old 03-10-2024, 07:19 AM
Ken D. Ken D. is offline
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Quote:
Originally Posted by M2inOR View Post
Fair Share...

1. What should the taxes be on any tax-free investments? Like the municipal bonds sold to pay for public projects that benefit everyone. Yes, anyone can purchase tax-free municipal bonds that pay dividends not subject to federal or state income taxes.

2. There are several types of savings for retirement. Pensions, IRAs, Roth IRAs, 401K, and Roth 401K.

Many of you know that Roth IRAs and Roth 401K can have cash, bonds, and or other investments that can grow, and none of the withdrawals are subject to taxes, state or federal.

These are open to almost everyone who want to save for retirement.

So...if one has all their savings in a Roth fund, how much should they pay in taxes? At what value should holder be considered "rich"?

Everyone has the opportunity to work hard, save, and live within their means.

Everyone!
You forget people already paid taxes at the time of conversion. You make it sound tax free, only what you earn on the investment is.