The Homa Files

Millions of baby boomers are delaying retirement because their IRAs are tanking; millions of retirees are crushed by rising energy and food costs.

Attack these two “kitchen table” issues directly:

1) Increase Social Security benefits by 10% (to help Seniors with rising living costs)

2) Make IRA withdrawal taxable at capital gains rates (they’re currently taxed at ordinary tax rates)

3) Make the first $100,000 of annual capital gains tax-free (they’re currently taxed 15% for many folks)

The last initiative would effect more than retirees, but would exclude “fat cats”.  And, the move would certainly buoy the stock market — at least a little.

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This entry was posted on October 1, 2008 at 7:59 am and is filed under Government & Politics, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.