Tag: capital gains tax
Four out of five retired households will pay little or no income taxes. But the tax rates at the highest income levels are meaningful, averaging 11 percent of household income and as much as 23 percent at the very top. These estimates come from a new analysis by the Center for Retirement Research that sheds…
The brief’s key findings are: The tax deferral for 401(k) plans costs the Treasury about $50-70 billion per year. Calculating the cost requires comparing how much individuals would pay in taxes on savings within a 401(k) to how much they would pay outside a 401(k). Recent deficit reduction proposals would lower 401(k) contribution caps, which would reduc…
