Saturday, April 13, 2013

The WSJ weighs in . . .

. . . on the President's proposal to cap deferrals in qualified retirement plans.

1 comment:

JLM said...

These tax-deferred accounts are machines for turning tax-favored capital gain into fully taxed ordinary income – income that *must* be realized after reaching a certain age. The cap might do high-income persons a favor.

Unfortunately, the one U.S. taxpayer who has no savings, no investments and no stock options to supplement his $3 million in tax-deferred accounts would have to drive a Buick, not a Bentley.