I am sure their expansion is the same as the argument for slavery: who will be the hewers of wood and the drawers of water? (Yes, it is Biblical.) we cannot have too many independently wealthy people.
Friday, January 17, 2020
good news for those planning to leave millions to your kids
You are, right? The Minimum Required Distribution age has been moved from 70 1/2 to 72. What is the MRD? To make sure that careful and thoughtful people do not leave too much to their kids, the government requires you to take a certain amount out of your non-Roth IRA at a particular age. The formula for how much you are required to take out is complex and depends on your life expectancy and how much you have, but the clear intent is to make sure that only those so obscenely rich as to set up trusts (average Democratic contributors) will pass any significant assets to their heirs.
Subscribe to:
Post Comments (Atom)
I was, until Italy went from the Lira to the Euro.
ReplyDeleteIf any of these Democrats are elected and make everything free, that printing press in the basement will be working overtime and we won't have to convert to Lira in order to leave our children millions. Every homeless man will be panhandling for a million.