Well that's clearly not the intent of the bill and regardless:
The tax proposal would apply to just about 700 taxpayers,
Democrats say — people who earn more than $100 million per year or who have more than $1 billion in assets for three straight years.
If you have $1 billion in your 401k, you can probably afford the taxation.
Most of the gains on tradeable assets like stocks would be taxed at the existing capital gains rate, which is currently 20% for individuals earning over $445,850.
That quote is putting the 20% rate in context, it's not saying that anyone earning over $445,850 would pay it. The legislation still only applies to the ultra-rich, but they'd be using the existing capital gains rate, which is currently 20% for individuals earning over $445,850.
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Seeing how they are talking about unrealized gains, I wouldn't count on an exemption.
Well that's clearly not the intent of the bill and regardless:
If you have $1 billion in your 401k, you can probably afford the taxation.
Looks like you missed part of the article
That quote is putting the 20% rate in context, it's not saying that anyone earning over $445,850 would pay it. The legislation still only applies to the ultra-rich, but they'd be using the existing capital gains rate, which is currently 20% for individuals earning over $445,850.