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Clinton's Big Tax Hike
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Submitted by Timothy, May 31, 2007 07:36

I suggest a Google Search on The Clinton Pension Grab, Alicia Munnell, and Imputed Income.

Alicia Munnell was an economist with the Federal Reserve Bank of Boston when she proposed a tax on private pensions in an article which appeared in the New England Economic Review (Jan-Feb 1992). Then in 1993 she was brought into the Clinton Administration as an economic advisor.

Now this is scary. Munnell proposed a one time 15% tax on the value of ALL private pension including your IRA, 40lk, all state pension funds, private pension funds. This would have given the government a one time $600 billion to $1 trillion windfall. THEN Munnell proposed a tax on the earnings made within your IRA/401k -- - - which would have KILLED the majic of compound interest. Not done yet, Munnell wanted to tax the employers contritution to your 401k. THANK HEAVEN for the Republican takeover in 1995.

President Hillary Clinton would immediately bring Dr. Alicia Munnell into her administration. Munnell now is with Boston College.

NOW CONSIDER THIS: You are 45 years old, you have a 401k and an IRA. Your nest egg is $200,000. Imagine writing a check for $30,000 to the U.S. Treasury for your one time 15% tax. Then imaging the administrator of the Califorina State pension fund that has, say, $100 BILLION - and she writes a check to the U.S. Treasry for $15 Billion.

Kind of scary, ain't it?

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It would be a splendid thing if the illustrious democrats who are running for president would realize that most of... [MORE]	Barbara	May 30, 2007 14:26
I suggest a Google Search on The Clinton Pension Grab, Alicia Munnell, and Imputed Income. Alicia Munnell was an economist with...	Timothy	May 31, 2007 07:36

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Reader comment on:
Clinton's Big Tax Hike
in response to reader comment: Clintons Big Tax Hike