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Uppity Wisconsin - Progressive Webmasters

« Bud Selig, Please Retire; Doug Glanville for Baseball Commissioner | Main | Chicago Cubs Desecrate Memory of Loyal Fans, World War II Veterans »

May 15, 2009

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Jim Haney

Paul:

Good catch on the retirement income issue. IRA and 401(k) distributions are taxed as ordinary income, not capital gains. While this means that taxes on those ditrubutions are actually higher than taxes on capital gains, taxes on 401(k) and IRA income would not increase as a result of this budget. WMC’s latest Insight provides additional information on the capital gains tax increase contained in the budget bill.

-Jim Haney
http://www.wmc.org/MediaOutlet/display.cfm?ID=2050

james rowen

Nice work.

R.J.

Wow, great catch. Cancel the retiree mass exodus.

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