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re: Many posters here are saying they'll come after our 401K
Posted on 1/20/21 at 9:27 pm to newmexicotiger
Posted on 1/20/21 at 9:27 pm to newmexicotiger
The most common thought is they’ll tax 401k’s over a certain amount, probably to bail out state pension programs.
Posted on 1/20/21 at 9:46 pm to Drizzt
I expect they are going to reduce the tax exemption to fund free tuition and universal healthcare. On top of that they will either tax the withdrawals from investment accounts at a higher rate OR reduce your Social Security if you are also taking 401k withdrawals.
They will say those that are investing on 401k have unfairly benefitted from an unfair advantage that those who could not afford college are not able to participate in.
They will say those that are investing on 401k have unfairly benefitted from an unfair advantage that those who could not afford college are not able to participate in.
Posted on 1/20/21 at 10:01 pm to Drizzt
quote:
The most common thought is they’ll tax 401k’s over a certain amount, probably to bail out state pension programs.
and then tax it again when you draw on it for retirement
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