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Old 04-23-2009, 08:29 AM   #21
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Do the SEPP.
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Old 04-23-2009, 09:57 AM   #22
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I'd rather fight the good fight to do away with our tax code and implement a fair tax system. Setting up a SEPP locks me into an amount that cannot be changed, or I risk "busting" the plan and being liable for taxes on all of it. I don't gamble, and this is just too much of a gamble for me.

While the disability & medical expense exceptions make sense, how many retirees are buying their first home or paying educational expenses?

The whole IRS system seems to dictate the way many live or have to live their lives. In our case, we'd be better off financially getting divorced & my being mandated to pay my then ex-wife money from the IRA. How screwed up is that?

With the ERP, I'm paying 34% of my AGI in income tax alone. The president paid only 32% on almost $2.7 million last year.
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Old 04-23-2009, 10:25 AM   #23
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My guess is your "good fight" isn't going to go far and you can at least partially solve the problem by doing the SEPP.
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Old 04-23-2009, 11:16 AM   #24
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I'll respectfully agree to disagree since I can understand your point. I felt this way for most of my life:
Don't rock the boat,
Nothing will ever change,
There is nothing you can do.

Unfortunately, if everyone simply goes with the flow, we'll never have any meaningful change in our tax system. I have plenty of time on my hands (just not as much money as I used to have ), so I can devote nearly all of my time to the issue.
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