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In Reply to: RE: Clearly you don't get the downside of using tax policy to influence social behaviors (nt) posted by Steve O on April 15, 2024 at 14:26:28
Yeah, it's a bad thing for folks to enjoy financial freedom, right?
Do you feel the same for influencing other good behaviors like retirement savings? ;)
Follow Ups:
Tax policy incentives to save for retirement are turning out to be less lucrative than originally advertised. Speaking only for myself, when I begin withdrawing 401K savings, they'll likely be taxed at a rate higher than the rate I would have paid if I had taken those funds as income when they were earned and then invested outside of a tax incentivized plan. A defined benefit pension is probably better for most non-exceptional workers. And yeah, there are (were?) incentives for employers to offer DBPPs.
Tax policy incentives to save for retirement are turning out to be less lucrative than originally advertised.
The objective is for folks to provide the missing part of retirement income requirements for themselves sans gubment handouts. SSA was never meant to replace normal earnings.
Speaking only for myself, when I begin withdrawing 401K savings, they'll likely be taxed at a rate higher than the rate I would have paid if I had taken those funds as income when they were earned
Sorry to hear that. Ever hear of a Roth IRA?
A defined benefit pension is probably better for most non-exceptional workers.
Yeah, some folks make not only poor financial decisions but ones regarding health as well. In a free country, that is our right. We certainly don't need gubment nannies to determine those answers - just incentives.
You seem to forget that you're exceptional. By definition, most are not.
Owning your home at retirement age facilitates the same purpose of supplementing livable income.
Whether I'm exceptional or not, a free society allows folks to make decisions for themselves . And promote good behavior however we can.
It is not for others to *decide* how people run their lives unless they break laws, are legally unable to do so or live in places like Cuba!
I found it incredibly presumptuous when Clinton was wearing his liberal superiority suit and boldly stated during the dot-com heydays that *he* could spend tax surplus money better than taxpayers. Folks are welcome to kiss his balls and that of others. Not me!
When they benefit you personally in the form of tax incentives like mortgage interest and retirement savings or charity. How about gubment subsidies in the form of EV tax incentives or student loan forgiveness or welfare or . . .
benefit society by norms and success rates set long ago.
How about gubment subsidies in the form of EV tax incentives or student loan forgiveness or welfare or . . .
1. I'm good with tax incentives based upon lowered energy usage.
2. Why?
3. Would you be more specific?
But of course. Despite advertised MSRP, until recently the most popular EVs have been expensive luxury/pseudo lux like Tesla typically loaded to the gills beyond base. A novel 3rd or 4th veh in the family. And it helps greatly to have a tax subsidized home where you can install your level 2 charger in a spare garage bay. Subsidies are best when they apply to those who are truly capable of appreciating them.
The national recharging infrastructure remains weak for practical travel.
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