3 ms·

401k already have a slew of different rules and exemptions and it would make sense to continue to exempt them from regular taxes.

• _-david-_ 5y ago
  Seeing how they are talking about unrealized gains, I wouldn't count on an exemption.
  • SketchySeaBeast 5y ago
    Well that's clearly not the intent of the bill and regardless: > The tax proposal would apply to just about 700 taxpayers, Democrats say — people who earn more than $100 million per year or who have more than $1 billion in assets for three straight years. If you have $1 billion in your 401k, you can probably afford the taxation.
    • _-david-_ 5y ago
      Looks like you missed part of the article >Most of the gains on tradeable assets like stocks would be taxed at the existing capital gains rate, which is currently 20% for individuals earning over $445,850.
      • SketchySeaBeast 5y ago
        That quote is putting the 20% rate in context, it's not saying that anyone earning over $445,850 would pay it. The legislation still only applies to the ultra-rich, but they'd be using the existing capital gains rate, which is currently 20% for individuals earning over $445,850.
    • deleted 5y ago
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