One thing people also hasn’t mentioned here is even if this ever got in and that’s an impossible “IF” (note all the “if this…it that happens in CA comments …it’s simply not going to happen), it can also get repealed and CHANGED AGAIN. You get all the money they taxed, etc…back after republicans take back both houses and the presidency and repeal this.

ObamaCare passed and is supported because the US is the only country in the developed world without some form of healthcare for everyone. Like I keep saying, unless we are ok and just start letting people just die in the streets to check their insurance first, healthcare is sorta a right in all the developed nations of the world. US pays near the most and has the worst healthcare and this issue hits me especially since even if you’re willing to pay, before Obamacare, insurers simply don’t want to sell to you so you had little to no options to buy. Praise the ACA for passing and curse Republicans that want to repeal it (I’m independent btw).

Tax laws change all the time yearly,,,you just play the “game” based on the rules and try to always win. As people notice, tax on earned income is very high. I suggest people who can afford to retire before 65 if they can afford to and pay for healthcare…then draw down or Roth convert all their retirement accounts for income without paying much or any tax. Make sure to refinance your mortgage to get a large tax deduction with super low rates while you’re working to offset the income withdrawn. After 5 or 10 years, you probably will have a lot of tax free money.

Also if tax rates become horrendous enough, people will simply also just leave the USA in droves (maybe this is just me).

Anyhow, I doubt this will even generate much money tax wise so it’s a stupid plan to begin with.

Like I would say, you tax or get money from the people who have it. Not the small amount in various small 529 plans.