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Tag Archives | Government and Economy

Is Credit Union Tax Exemption an Unfair Advantage?

South Dakota has no individual or corporate income taxes. I’m quick to point this out to those unfortunate enough not to live in our fair state. Most recently I was reminded of this advantage when I calculated that a California client would pay 23.8% in federal capital gains taxes and another 13% in state capital […]

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Federal Budget Proposes Changes to IRA Rules

Lost in the hoopla over the government shutdown, defunding Obamacare, and raising the debt ceiling are some proposals contained in President Obama’s budget that will have a significant impact on retirees, inheritors, and savers. Most of the President’s proposals are aimed at enforcing higher taxes on savers who maximize their retirement plans. This is a […]

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Obama Proposes $3 Million Cap on IRAs

I listened to several of the Sunday talk shows and while there was criticism of the President saying the CA attorney general was good looking, there wasn’t a word about his unprecedented attack on IRAs in his new budget proposal, which was made public on Friday. The administration released a preview of their budget proposal […]

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Does Uncle Sam Want Your IRA?

“The Feds Want Your Retirement Accounts.” This was the headline of a February 22 post on the American Thinker blog recently forwarded to me by a reader. Normally I hit delete on articles warning of some type of impending financial doom. I read this one, since Argentina confiscated its citizens’ retirement accounts shortly before I […]

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Doing Better Than We Think In South Dakota

South Dakotans have a long-established money script that “we are a poor state.” Everyone in the state knows it, and we’ve always had the facts to prove it. We’ve grown accustomed to being at the lower rungs of almost any financial measurement. I’m a third-generation South Dakotan. I’ve watched most of my classmates move out […]

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