Thursday, November 29, 2012

The Democrats' tax simplification plan

By Donald Sensing

Remember the old joke about the IRS' simplified Form 1040? It looked like this:

1. Write the amount of your total income from all sources here: ___________

2. Send us a check for the amount on line 1.

What could be simpler? Now add to that a couple of new lines:

3. Write the amount in all your retirement accounts combined here: _________

4. Send that in, too.

Investors Business Daily warns that the Democrats are setting their sights on individual retirement accounts, including 401(k) accounts and Roth and traditional IRAs. Link.


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