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All those promises are "parchment guarantees", to use Madison's term. For example, social security distributions were promised to be tax exempt, and they were f
by madars 1y ago
All those promises are "parchment guarantees", to use Madison's term. For example, social security distributions were promised to be tax exempt, and they were from the institution of the program in 1935 up until 1983 - talk about reliance interest!
- throw678937 1y agoI give it even odds that they'll be taxing at least some Roth distributions by the time I retire.