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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 9:51 am to notsince98
Posted on 9/24/25 at 9:51 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. 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.
Applying a red herring in a lecture about logic and fallacies is a bold move
0
Posted on 9/24/25 at 10:02 am to notsince98
How would zero taxes work in America? I'm genuinely curious.
Posted on 9/24/25 at 10:07 am to Upperdecker
quote:
tax loopholes
Can we put this phrase to bed? It is so dumb.
quote:
Simplify the tax code. Reduce the IRS
Yes please.
Posted on 9/24/25 at 10:07 am to ragincajun03
quote:That's not "high."
threshold for a high earner at more than $145,000 in wages.
Posted on 9/24/25 at 10:17 am to Mingo Was His NameO
quote:
And you aren’t forced to live here. Move to the Bolivian Amazon and live off the jungle, you won’t have to pay taxes
Show us on the doll where the rich people touched you.
Posted on 9/24/25 at 10:22 am to ragincajun03
Biden assured us nothing would happen to anyone making less than $400,000.
Posted on 9/24/25 at 10:35 am to ragincajun03
145k AGI or gross?
Posted on 9/24/25 at 10:36 am to GRTiger
AGI
Posted on 9/24/25 at 10:37 am to ragincajun03
Good grief, how many of thosr are there? 
Posted on 9/24/25 at 10:39 am to Prawn
Good info. That would put one's salary closer to 180k assuming 401k max and standard deduction for a single filer.
Still should be higher.
Still should be higher.
Posted on 9/24/25 at 10:40 am to ragincajun03
quote:This shite right here is out of control, insane how much it’s risen since 2015.
since the Social Security contribution cap is currently at $176,100
quote:
2015 $118,500
2016 $118,500
2017 $127,200
2018 $128,400
2019 $132,900
2020 $137,700
2021 $142,800
2022 $147,000
2023 $160,200
2024 $168,600
2025 $176,100
And 145 being considered high earner is laughable in 2025. That hasn’t been the case since Covid.
This post was edited on 9/24/25 at 10:43 am
Posted on 9/24/25 at 10:43 am to ragincajun03
The more I think about it, might it not be helpful for those who haven't been able to contribute to a Roth because their income was above the limits? Wouldn't have to do a backdoor Roth and get hit with the pro-rata rule, correct?
This post was edited on 9/24/25 at 10:44 am
Posted on 9/24/25 at 11:07 am to Upperdecker
quote:
I encourage you to move to a country with no taxation and see how that works out for you baw
You would have to find a country without a central bank.
Posted on 9/24/25 at 11:13 am to Mingo Was His NameO
quote:
They actually weren’t in this case, which is why they made this rule.
Older workers were putting in pre tax money. Said worker dies, but never pulls the money out the traditional 401k, thus it isn’t taxed. That money is then passed down to their heirs at a stepped up basis and tax is never paid on the incremental amount between their contribution amount and the new basis amount
Lets be honest, taxing retirement funds has always been double dipping by the government. They get theirs when we get paid and then they get it again when you're taxed in retirement.
Posted on 9/24/25 at 11:17 am to ragincajun03
Roth’s are more beneficial since your money grows tax free.
Posted on 9/24/25 at 11:26 am to Upperdecker
quote:
I encourage you to move to a country with no taxation and see how that works out for you baw
I could never bring myself to actually do it, but always dreamed about living between Dubai and Costa Rica and paying no taxes. I have several British coworkers who do just that and it works out pretty well for them.
Posted on 9/24/25 at 11:30 am to DownshiftAndFloorIt
quote:
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.
What if they don't honor promise of tax free growth (or based on your good savings cut your SS)
I get your sentiment, but I am all don't pay until I have to.
This post was edited on 9/24/25 at 11:31 am
Posted on 9/24/25 at 11:30 am to Mingo Was His NameO
quote:
Older workers were putting in pre tax money. Said worker dies, but never pulls the money out the traditional 401k, thus it isn’t taxed. That money is then passed down to their heirs at a stepped up basis and tax is never paid on the incremental amount between their contribution amount and the new basis amount
Nope
Posted on 9/24/25 at 1:03 pm to CootDisCootDat
We would also accept, "Tax deez nuts".
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