Tag: tax rates
Changes to the taxation of capital income can have a big effect. Retirement saving in typical employer plans – both defined benefit pension and 401(k) plans – is tax advantaged because the government taxes neither the original contribution nor the investment returns until they are withdrawn as benefits at retirement. If the saving were don…
The Congressional Budget Office projects that, with the current trajectory of taxes and spending, debt will rise from its current level of about 70% today to nearly 95% in ten years and twice that high by 2040. It is inconceivable that we can avoid such an outcome without raising taxes. But the current tax debat…
