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Started By
Message
re: High Earners Age 50 and Older Are About to Lose a Major 401(k) Tax Break
Posted on 9/24/25 at 8:12 am to DownshiftAndFloorIt
Posted on 9/24/25 at 8:12 am to DownshiftAndFloorIt
quote:I’ve been in the highest tax bracket for the past 30 years.
I'd rather pay them now than pay them later. I feel pretty confident that taxes are not going to go down in the next 40 years.
The next 30 years (God willing) I will not be for all of them.
For someone in my situation, this change in policy isn’t that big of a deal.
For a 59.5 year-old who plans on working for 10 more years, it will require a reappraisal of strategy.
1
Posted on 9/24/25 at 8:12 am to DownshiftAndFloorIt
quote:
What's bullshite is $145k being considered high earning. Who the frick came up with that number?
If they want to make it “fairer”, you’d think since the Social Security contribution cap is currently at $176,100, this limit whereby the forced Roth contribution kicks in would be the same. But who knows…I’m not a finance/tax person.
I am happy to see that at least self employed, 1099, earners are exempt. I’ve always felt I was getting completely screwed having to fork over double in SS/FICA taxes as W2 earners, and still also having to carry health insurance for my household, which is also typically more expensive of plans than an employer one where the risk is spread out.
Posted on 9/24/25 at 8:13 am to Upperdecker
Perhaps my comment needs further clarification. taxation in this country as it currently exists at the federal level is theft.
Posted on 9/24/25 at 8:13 am to ragincajun03
quote:
High Earners
quote:
$145,000 in wages.
This is fricking stupid. Screw the government. And I mean both sides, They both love to steal from all of us. frick them all
Posted on 9/24/25 at 8:13 am to BabyTac
quote:
$145,000 = high earner is outright laughable.
After pretax deductions bruh. Add up to $23.5k to that number. Plus 401k matching and potentially stock comps. That person is doing just fine
Posted on 9/24/25 at 8:14 am to ragincajun03
CPAs wouldn’t like it but I’m ready for a national sales tax
Posted on 9/24/25 at 8:14 am to Rize
quote:
These fricking cocksuckers just can’t leave shite alone. I was looking forward to my catch up years in 6 years.
I’m no commie, but I do think eventually the “rich” will have to give up more of their wealth or it will be forcibly taken from them by young people.
But it’s fricking absurd to call $145k a year “rich”.
Posted on 9/24/25 at 8:14 am to ragincajun03
Wait, was this a tax code change passed by Congress and signed into law by the president or just some career employee deciding how a regulation read?
Seems like if it was a law change people would have been up in arms. Such bullshite to set high earner at $145k as well.
Seems like if it was a law change people would have been up in arms. Such bullshite to set high earner at $145k as well.
Posted on 9/24/25 at 8:15 am to DA Shaker
quote:
Perhaps my comment needs further clarification. taxation in this country as it currently exists at the federal level is theft.
Moderate taxation and good tax dollar efficiency is the key. You want a good bang for your buck. The US currently gives you a relatively bad bang for your buck, largely because 1/4 of our tax dollars are servicing our debt which continues to spiral higher
Posted on 9/24/25 at 8:15 am to Mingo Was His NameO
Yeah, frick 'em.
Tax rates will continue to rise, in one way or another.
The government has to service debt.
Tax rates will continue to rise, in one way or another.
The government has to service debt.
Posted on 9/24/25 at 8:17 am to ragincajun03
The big grab there is that the contributions after making 145k will be taxed at >= 22%.
I’m retired and will be recharacterizing 401k money to Roth the next couple years - mostly at a 10% rate.
I’m retired and will be recharacterizing 401k money to Roth the next couple years - mostly at a 10% rate.
Posted on 9/24/25 at 8:18 am to soccerfüt
quote:
I’ve been in the highest tax bracket for the past 30 years.
No you haven’t you fricking liar
Posted on 9/24/25 at 8:18 am to ragincajun03
Wouldn’t they want high earners investing in the economy?
Posted on 9/24/25 at 8:19 am to Earnest_P
quote:
I’m no commie,
You sure about that?
The "rich" aren't the ones leaching off the system, comrade.
Posted on 9/24/25 at 8:19 am to ragincajun03
Look, I hate what happened to Charlie Kirk and I'll be hypocritical when i say this......but i definitely celebrated when that guy crashed his plan into the IRS Building in Austin on purpose.
Posted on 9/24/25 at 8:19 am to biglego
quote:
CPAs wouldn’t like it but I’m ready for a national sales tax
This would create so much work for CPAs, but it’s also a fricking terrible idea. Unless you like your tax rate being around 35% and financing your tax payments
Posted on 9/24/25 at 8:19 am to DA Shaker
quote:
Taxation is theft.
I get some is needed, but not as much as we have now. Govt should operate at 25% what they do now, we have way too much govt at all levels.
And stop taxing items we have already bought, cars, homes, because all I see at sheriff's offices are people sitting around collecting that money annually and reading facebook, and laughing at taxpayers.
Posted on 9/24/25 at 8:23 am to Upperdecker
quote:
I encourage you to move to a country with no taxation and see how that works out for you baw
In the event you dont know what logic is, your statement has nothing to do with the fact that taxation is theft. Everyone else doing it doesnt make something right. If you would like to learn more about logic, reasoning and fallacies, intro level philosophy classes are a great place to start.
Posted on 9/24/25 at 8:25 am to notsince98
quote:
In the event you dont know what logic is, your statement has nothing to do with the fact that taxation is theft.
No one forces you to live here or make money. You have free will. You could move to the middle of nowhere with tribes that pay no taxes, but you choose not to and accept the social contracts of American society…. If you want to get all philosophical
Posted on 9/24/25 at 8:27 am to kywildcatfanone
quote:
et some is needed, but not as much as we have now. Govt should operate at 25% what they do now, we have way too much govt at all levels.
And stop taxing items we have already bought, cars, homes, because all I see at sheriff's offices are people sitting around collecting that money annually and reading facebook, and laughing at taxpayers.
Yep, all of this.
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