1/2 Conversation on unlocking retirement capital for the next generation Me: Is there any chance that withdrawals from retirement accounts won’t be taxed? Is that a step too far? Grok: For traditional (pre-tax) accounts, ordinary withdrawals are taxable as ordinary income. That’s the deal for the deferral. Roth accounts can be tax-free if qualified. QCDs to charity are another legitimate exception. Pure tax-free personal withdrawals from traditional accounts aren’t available under current law. Me: We knew what we were getting into, but we were forced to pay into a pay-as-you-go system that couldn’t sustain itself while having to build better alternatives on our own. Grok: Correct. Social Security is mandatory and pay-as-you-go. The trust funds are projected to face shortfalls in the early 2030s. People who built private capital alongside it did better by owning productive assets. Me: While the boomers still live, how could we reduce this burden? Younger people would go ballistic unless their parents pre-gifted some of this money to them without the tax penalty. Could a wave of support happen? Some say about 30% of youngsters stand to gain inheritance. Why wait? Free up the money before parents die. Grok: The idea of moving capital earlier is rational. Under current rules, traditional IRA money generally has to be distributed (and taxed) before it can be gifted. Creating a true tax-free transfer during life would require legislation. Me: Think of a presidential directive consummated by Congress. Boomers and 30% of younger people would want this. Frame it as: “Give parents the ability to transfer their wealth tax-free so their children can benefit now and help America grow.” Grok: The coalition is real — high-turnout older voters plus the inheriting minority of younger ones. The messaging is stronger when tied to growth and opportunity rather than pure tax relief. Revenue cost and fairness arguments remain the main obstacles. Me: How about a reduction in taxes for money sent to a child’s business or education? States could do it. Money to one’s children is more efficient than sending it to the government. Grok: A targeted reduction or exclusion for documented transfers into a child’s education or business is more realistic than a full exemption. States have flexibility on their own income taxes. The efficiency case for private family allocation is legitimate. Me: We already have purpose-based exceptions for IRA withdrawals. There could be a box for “business enterprise.” Grok: Existing exceptions mostly waive only the 10% early-withdrawal penalty, not the ordinary income tax. Adding a new “business enterprise” purpose could be framed that way politically, but real tax relief on the distribution itself is a bigger change. Me: I’m asking that they frame it politically as just one more exemption to get it passed. In truth, it is to waive or reduce the taxability of withdrawals by people well over 59½. Sold as just one more box on the form, subject to audit and criminal prosecution for fraud. Grok: That packaging is clever. “One more checkbox” sounds incremental. The substance is still a reduction in the deferred tax. Strict documentation, dollar caps, and criminal penalties for false claims would be necessary for credibility. Me: It’s a way to help make America great again. Infuse youngsters with the ability to unlock their potential. Why wait until those holding the means of production die? Release the capital now. Grok: The growth argument is the strongest version. Capital deployed earlier into businesses can create jobs and taxable activity. Non-heirs can benefit secondarily if those businesses succeed. Framing it as unlocking potential rather than pure tax relief is smarter politics. Me: A $100,000 annual cap would limit abuse. Over ten years that’s a million dollars — not enough for the ultra-wealthy to game, but lifeblood for a small business. It doesn’t have to be the full $100k every year; it could be $5k or $10k.

2/2 Grok: The cap helps. It keeps the benefit targeted and defensible. Ongoing businesses already have documentation (tax returns, payroll, etc.), which reduces fraud risk compared with brand-new entities. Me: This reduces the claim that boomers are selfish. It bridges the gap. It is a way out without socialist or communist revolution. Grok: That framing is coherent. It positions the idea as a market-based release valve that moves capital inside families rather than through distant bureaucracies.

Did you ever try FSD? xitter.cf/mitchellvii/status/206…

Wondering about unsupervised FSD in a personally owned Tesla with a steering wheel and pedals. If on full FSD, what are the ramifications of sitting behind the wheel while impaired. Even if you can prove you never disengaged during the trip, you still have the ability to take over. That’s a problem.

These same countries are pivoting to U.S energy resources as they realize their reliance on the ME is problematic.

But FSD now!

Do you remember when you joined X? I do! #MyXAnniversary

Peace on Earth. Good will to all. Merry Christmas 🎁🎄

The woman on the right is perfect. So is the woman on the left, but the right photo is particularly striking.

BO: “Just give me some time. I can be more flexible.”

LOL!

This is hyperbole. No one should suffer extrajudicial harm, especially leaders.

Trump Administration Squashes New York City Congestion Pricing Transportation Secretary Sean Duffy says he has rescinded approval of tolling Follow the WSJ in Apple News The U.S. Department of Transportation has rescinded its prior approval of New York’s congestion pricing plan, which went into effect in January.  “New York State’s congestion pricing plan is a slap in the face to working class Americans and small business owners,” Transportation Secretary Sean Duffy said in a statement.  Write to Joseph De Avila at [email protected] Trump's First 100 Days The biggest scoops and insights from our team in Washington. Our daily newsletter continues through the first days of the new administration and beyond. FOLLOW US