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Started By
Message
re: Proposed 401k limit -- $2400 per year
Posted on 10/23/17 at 10:39 am to matthew25
Posted on 10/23/17 at 10:39 am to matthew25
So I know everyone on the MT is an expert with their money... but he's the reality out there in the USA:
A $2,400 per person per year limit would be in excess of what 75% of the county is actually saving per year.
In other words... this change would not impact most people.
I understand how sad that sounds.
So... given that... this one is actually politically very easy to deal with... Especially considering union employees still mostly get pensions (which are not affected by this). This is also an easy class warfare battle for the left.
A $2,400 per person per year limit would be in excess of what 75% of the county is actually saving per year.
In other words... this change would not impact most people.
I understand how sad that sounds.
So... given that... this one is actually politically very easy to deal with... Especially considering union employees still mostly get pensions (which are not affected by this). This is also an easy class warfare battle for the left.
2
Posted on 10/23/17 at 11:05 pm to LSUFanHouston
quote:
A $2,400 per person per year limit would be in excess of what 75% of the county is actually saving per year.
In other words... this change would not impact most people.
There will be a ton of small businesses that no longer offer plans. If the owner doesn't benefit enough, there is no need for the plan at all.
Drop the 401k limit, lessen corporate taxes = no reason to have a plan. No reason for the employer to contribute to the employees if the owners benefit and business deduction don't measure up. Simple math. Lowering 401k limit also lessens the ability for the employee to contribute anything
Posted on 10/26/17 at 8:00 pm to LSUFanHouston
I am aware that 70% of Americans do not have $1000 in savings.
But the top 30% voted for Trump and the Republicans. This is a knife in the back.
Only 9% of Americans now have pensions - mostly government workers.
Limiting us to $24,000 every 10 years (avg person works 30 years) will keep everyone working to age 80.
But the top 30% voted for Trump and the Republicans. This is a knife in the back.
Only 9% of Americans now have pensions - mostly government workers.
Limiting us to $24,000 every 10 years (avg person works 30 years) will keep everyone working to age 80.
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