Do personal savings affect pensions, RRSPs, or other retirement income?
Never underestimate the government’s ability to tax. Just watch Obama and his minions as we speak. You are correct that for the most part, governments are not currently taxing wealth, but just income. I say for the most part in that real property (your home) is taxed by various governments. Also, some governments tax personal property such as cars. And almost anything you buy (with saved up and already taxed income) is taxed yet again with sales taxes and user fees. There is talk about reducing Social Security income (in essence a tax) on well to do people. It’s called means testing. Nancy Pelosi has talked about reducing some of the tax benefits of 401K’s and IRA’s, yet another tax on wealth in my humble opinion. With the multi-trillion dollar deficits Obama, Pelosi and Reid are running up and the vastly increasing entitlement programs they are promoting (including government funded health care) the need for more and more taxes is endless. So while at the present time, there is no dir
