re: Here They Come! Why Congress Might Have to Mess with the 401(k) (Posted on 11/29/12 at 3:13 pm to Taxing Authority)
I am all for lowering or eliminating taxes. But since we have taxes all these deductions need to go away. Just pay a percentage and be done with all the unfair treatment. By unfair I mean deductions that favor groups and doesn't favor others.
TigerTattle LSU Fan Out of Town Member since Sep 2007 5037 posts
re: Here They Come! Why Congress Might Have to Mess with the 401(k) (Posted on 11/29/12 at 3:25 pm to lsu13lsu)
quote: Just pay a percentage and be done with all the unfair treatment
I don't know of anyone who'd be against this. Except maybe those that pay no income taxes. And those who get that big "free money" refundable credit bonus every year.
More people need to have skin in the game. There are plenty of people who, based on their income, could and should pay taxes, but aren't required to due to the current deductions.
IMO, those who don't work and don't pay taxes should suffer a cut in their benefits every time taxes are raised on the workers, even if it's only $5 or so. They need to see what it feels like to have money taken out of their pockets. Right now they only know how it feels to have money put into their pockets, and they like it, and they keep voting for more.