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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
Posted by Drizzt
Cimmeria
Member since Aug 2013
12935 posts
Posted on 1/20/21 at 9:27 pm to
The most common thought is they’ll tax 401k’s over a certain amount, probably to bail out state pension programs.
Posted by fwtex
Member since Nov 2019
1966 posts
Posted on 1/20/21 at 9:46 pm to
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.

Posted by lsufball19
Franklin, TN
Member since Sep 2008
65046 posts
Posted on 1/20/21 at 10:01 pm to
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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