On the recordMarch 19, 2010
So in 2014 they'll be entering kindergarten, and that is when the benefits will begin. However, the tax increases will begin right away. And in fact, the Senate bill not only increases payroll taxes, but now we have a reconciliation bill that increases or begins taxing on the payrolls of American workers for the very first time unearned income. So when we are trying to convince Americans to save more, now suddenly their annuities and their interest income from a bank and their retirement accounts and all of these other things, rents, are going to now be taxed for the first time on payroll taxes.
