Money
David Bach says US should apply flat tax on IRA withdrawals after 60
Ed Mylett Show
Why You're Still Broke Even If You Make Good Money Feat. David Bach
What was said
""I think the government should change the tax laws on IRA distributions to a flat tax. And I think if the government were to change the taxes on IRA accounts after the age of 60 and they pick a number 10% 12% or 15%. More people would access their retirement accounts sooner.""
Personal finance author David Bach tells Ed Mylett he thinks the US should replace the current income-tax treatment of IRA withdrawals with a flat rate after age 60. Bach argues it would prompt retirees to withdraw savings earlier, boost consumer spending and bring tax receipts forward; he says he has published material at Iraflatax.com.
Verification status
Attributed speaker claim
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Source and context
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- Programme
- Ed Mylett Show
- Episode
- Why You're Still Broke Even If You Make Good Money Feat. David Bach
- Clip time
- 51:11
- Original source
- Watch the source segment →
From this episode
Ed Mylett Show