Biden tax plan may lead to more Roth retirement accounts
President Joe Biden is expected to propose higher taxes on the wealthy. That may make Roth conversions a better idea this year.
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CURRENTLY 50% C and 50% S (as of COB 04/18/2024) 2nd April IFT
Yeah, too big of a deal being made about those earning over $400k a year.
The bigger issue is raising corporate taxes, especially the global minimum tax, in an effort to go after companies that hide money overseas (Apple). There's always the risk that costs will be passed down to us, but I'd love to see some of these 'Hug the planet' type companies put money where their mouth is and actually pay taxes in the US.
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