[quote=SK in CV]When in the state of California has a super-majority of either party has passed a retroactive tax increase? (Please note, your previous example of Proposition 30 doesn’t qualify.) [/quote]Because they were too busy trying to pass shit like SCA-5. Luckily, they didn’t have super-majority for long. But I expect it to happen again.
[quote=SK in CV]It’s not likely it will happen. For one, there hasn’t been a super-majority in congress for decades. The likelihood of it happening any time in the next couple decades is slim. And second, I can’t recall a retroactive tax increase being suggested in the last 40 years. (It did happen once. During either late in the Reagan administration or early Bush I administration. Congress quickly fixed it.) If it’s ever happened at the federal level and stuck. Creating precedent like that is almost impossible without a super-majority.
Beyond that, nobody is even suggesting removing the current tax benefits of deferred taxes for things like 401Ks, Roths or IRA, much less the future benefits of those accounts. Nothing like that has ever happened before.[/quote]Just because it didn’t happen before doesn’t mean it can’t happen in the future. If a charismatic president who want to increase SS benefits and pay for it by completely eliminating 401k/IRA retroactively. I can see that gaining populous support. Especially if they can frame it as helping the poor and middle class by increasing SS by making the rich pay a little more, by just removing tax break that rich people don’t need. I see that as a very possible scenario. We’ll just have to wait and see.
