Thread: Biden tax plan may lead to more Roth retirement accounts

Originally Posted by NewsFeeder

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.

More @ CNBC...

From the article, tax hike should be on earnings above 400,000.
SO basically this affects no one here, unless anyone's spouse is a surgeon or high priced lawyer.
Probably affects less than 2% of the overall population

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.