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re: I thought taxes weren't going up- Biden eyeing 401k
Posted on 3/3/21 at 3:05 pm to Bayou_Tiger_225
Posted on 3/3/21 at 3:05 pm to Bayou_Tiger_225
quote:
I don't think so. This isn't as big of a deal as people on this thread are making it out to be. High earners will still easiy be able to save for their retirement if they chose to do so. The way they do it will just change.
Biden and the demprogs mucking around in IRA's, even seeing them sniffing around them, is enough to raise the alarm. Marxists and their useful idiots turn everything they touch into shite.
1
Posted on 3/3/21 at 3:11 pm to Auburn1968
quote:
Biden and the demprogs mucking around in IRA's, even seeing them sniffing around them, is enough to raise the alarm. Marxists and their useful idiots turn everything they touch into shite.
I wish I had more up votes
I pay $13k property tax, sales tax, state income tax, and federal income tax
New Jersey still can't fill hole. It never ends.
Posted on 3/3/21 at 3:21 pm to jimbeam
quote:
Did anyone actually read the article? This will affect very few people in this thread I would imagine.
Doesn't matter about not affecting people in this thread. What matters is Biden said he would not raise taxes for those making below $400K. This goes well below $400K.
Posted on 3/3/21 at 3:46 pm to RockyMtnTigerWDE
quote:
No I’m not. I just don’t want to keep opening the door.
It's called a 401(k) after the IRC section that governs it. There is no door. It's an open passage way. Hell, there's meddling every year by way of inflation adjustments to contributions. We just need to hope the meddling doesn't frick us.
This post was edited on 3/3/21 at 3:49 pm
Posted on 3/3/21 at 4:00 pm to thelawnwranglers
Told you assholes they're going to eventually seize 401k plans...
Posted on 3/3/21 at 4:30 pm to Lsuhoohoo
Interestingly, there is only 7 to 8 trillion dollars in individual retirement accounts. The dems could go through that like a flash in the pan.
Posted on 3/3/21 at 4:38 pm to alphaandomega
quote:
It doesnt matter their reasons.
Their reason is dumb anyway. If the deduction is 'unequitable' because higher earners get a bigger benefit then lower their rate. The people this impacts earn about 19 percent of all income, and pay 40% of all taxes.
This kind of change makes the code less equitable.
Posted on 3/3/21 at 4:41 pm to thelawnwranglers
If you think you are pissed now wait until your realize it’s going to pay for “diversity and inclusion” positions that make 300k per year to find racism in everything and pay for reparations.
Posted on 3/3/21 at 4:47 pm to thelawnwranglers
It started when the Dims got a tax on dividends passed in 1986. Dividends that are realized gains off already once taxed monies.
Now the lepers and leeches of society are after the whole pantry and not the bread basket.
Now the lepers and leeches of society are after the whole pantry and not the bread basket.
This post was edited on 3/3/21 at 4:48 pm
Posted on 3/3/21 at 4:50 pm to thelawnwranglers
quote:
I thought taxes weren't going up-
Actually, I think in a few of his moments of honesty he was up front about people's taxes likely going to be rising under a Biden administration, which is insane that people hear that and think, yay!
Posted on 3/3/21 at 5:38 pm to jimbeam
quote:Your taxes are going up.
someone please tell me how this will hurt a single oilfield baw making $120k, or an oilfield baw with a working wife who make $300k combined
And congrats on being emasculated by your wife.
This post was edited on 3/3/21 at 5:41 pm
Posted on 3/3/21 at 5:39 pm to jimbeam
Looks like it is going to affect you and me and probably plenty others.
Posted on 3/3/21 at 5:40 pm to NIH
quote:
He’s unifying us!
-JohnnyKilroy, CharlesLSU, Mickey Goldmill, etc
Posted on 3/3/21 at 5:49 pm to lsu13lsu
quote:
The problem is too many are not using retirement accounts for retirement. They are using them for estate planning tools. I know everyone will go Reeeeeeee! When they read this but it is true.
It’s my fricking money. I should be able to use it however I want. I would think that proper retirement planning includes estate planning.
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