Sure an employer-matched 401k, 403b, or Roth IRAs is probably the smartest choice for most people but these taxes punish people who want to manage their retirement on their own with mutual funds or other investments.
I remember reading that the initial income tax proposal was just a few %, and people were outraged over the idea.
It was a couple percent on the top 1% of earners, just to pay for war preparations and military upkeep. Don't worry, commoners, it will never affect you.
401k and IRA contributions have limits. If you have good income and are serious about saving you will run into them.
If you're a billionaire and able to get a line of credit on your portfolio at 3% to pay expenses without selling shares, you will never run into this tax. Warren Buffet, Elon Musk, et al will never be affected by this. If you're a doctor or lawyer who isn't wealthy enough to get those sub-prime rates on equity lines of credit, you will.
Sure an employer-matched 401k, 403b, or Roth IRAs is probably the smartest choice for most people but these taxes punish people who want to manage their retirement on their own with mutual funds or other investments.
I remember reading that the initial income tax proposal was just a few %, and people were outraged over the idea.
It was a couple percent on the top 1% of earners, just to pay for war preparations and military upkeep. Don't worry, commoners, it will never affect you.
401k and IRA contributions have limits. If you have good income and are serious about saving you will run into them.
If you're a billionaire and able to get a line of credit on your portfolio at 3% to pay expenses without selling shares, you will never run into this tax. Warren Buffet, Elon Musk, et al will never be affected by this. If you're a doctor or lawyer who isn't wealthy enough to get those sub-prime rates on equity lines of credit, you will.