Biden will go after your retirement accounts, and here's how it starts...

[LordBrownTrout]

This is what happens when we let govt take our money and allow us a small monthly pittance. Our own money yet we can't even will it to our family or friends when we die.

 

[Mac1958]

I understood it perfectly. It's the party line for DNC cultists like you.

Neat.

 

[Anathema]

That’s why I don’t trust banks or retirement accounts. I invest in HARD CURRENCY ONLY… weapons, ammunition and survival supplies.

 

[TroglocratsRdumb]

401k, Roth IRA, and other retirement accounts. I'm predicting right now that the Biden Administration will eventually try to go after them in the name of "saving Social Security." When they do this, it will be incremental. They'll start by taxing a small percentage of the biggest accounts, then working their way down.

Congress wants to kill the 'backdoor Roth IRA.' Here's what it means for you​

"Tax-free savings in retirement are great to have at your disposal.

But provisions in the Build Back Better bill would limit some of the ways to accrue them in the future -- at least for high-income savers.

The provisions are included in the version of the bill that recently passed the House, and is set to go to the Senate for consideration in December."

Congress wants to kill the 'backdoor Roth IRA.' Here's what it means for you

Inflation is already destroying savings

 

[bendog]

It's the alternate universe: Lie to the rubes, keep them angry, tithing and voting.

Working like a charm so far.

This is hardly a new story. And why should we allow people making 500K, or people with estates over a million, to utilize 401Ks? The point was for workers to be able to save to supplement soc sec.

 

[Mac1958]

This is hardly a new story. And why should we allow people making 500K, or people with estates over a million, to utilize 401Ks? The point was for workers to be able to save to supplement soc sec.

You should look into what's allowed in "Cash Balance" plans. It'll blow your mind.

 

[Missouri_Mike]

Seriously?

1. Increase the payroll tax from 12.4%
2. Increase or eliminate the payroll income cap
3. Means-test the income on the back end
4. Accelerate the increase in FRA
5. Any combination therein

1- Increase it to what? How much less would you like to take home per week?
2- More money to steal.
3- There ya go. Steal peoples income for life for their own good (retirement) and then refuse to give them those payments.
4- Why? In case the government can’t steal enough to pay you what they promised?
5- Grifters just don’t give a fuck. Whatever it takes right?

 

[DBA]

There are several tweaks that can be made to Social Security that can "save" it just fine.

Silly paranoia is not one of them.

Yeah we know, you are the one that believes the guy that comes to your door and says he is from the government and is there to help.

 

[Mac1958]

1- Increase it to what? How much less would you like to take home per week?
2- More money to steal.
3- There ya go. Steal peoples income for life for their own good (retirement) and then refuse to give them those payments.
4- Why? In case the government can’t steal enough to pay you what they promised?
5- Grifters just don’t give a fuck. Whatever it takes right?

Cut spending for a change.

Problem solved.

 

[Missouri_Mike]

This is hardly a new story. And why should we allow people making 500K, or people with estates over a million, to utilize 401Ks? The point was for workers to be able to save to supplement soc sec.

So you’re the one that gets to decide how much money you will ALLOW people to have.

 

[Missouri_Mike]

Cut spending for a change.

Problem solved.

What happened to SS isn’t part of the annual budget?

 

[JGalt]

The thread isn't paranoia it's flat out lies.

You think so? Look at the debt clock:

On 2000 when GW left office, the US national debt was $10.9 trillion dollars.

After 8 years of Obama, it had risen to $20.1 trillion

After 4 year of Trump and counting up to now, it had risen to $28.9 trillion.

The prediction is that by 2025, the national debt will be $47.9 trillion dollars.

https://usdebtclock.org/index.html

The Democrats you voted for are spending other people's money like drunken whores who got ahold of someone's credit cards and pin numbers.

 

[odanny]

So you didn't understand what I wrote.

I'm not surprised.

This is why I don't bother.

I wouldn't bother with Marvin, he is as dumb as a bag of hammers.

 

[Mac1958]

I wouldn't bother with Marvin, he is as dumb as a bag of hammers.

It's my own fault for even engaging.

As I always say, this must be what it's like to try to communicate with a wild-eyed jihadi on the streets of Damascus. All you can do is observe.

 

[odanny]

The Democrats you voted for are spending other people's money like drunken whores who got ahold of someone's credit cards and pin numbers.

You're usually too dumb to respond to, but to blame Republican spending on Democrats should be proof of your idiocy to anyone with more than three active brain cells.

 

[Dragonlady]

401k, Roth IRA, and other retirement accounts. I'm predicting right now that the Biden Administration will eventually try to go after them in the name of "saving Social Security." When they do this, it will be incremental. They'll start by taxing a small percentage of the biggest accounts, then working their way down.

Congress wants to kill the 'backdoor Roth IRA.' Here's what it means for you​

"Tax-free savings in retirement are great to have at your disposal.

But provisions in the Build Back Better bill would limit some of the ways to accrue them in the future -- at least for high-income savers.

The provisions are included in the version of the bill that recently passed the House, and is set to go to the Senate for consideration in December."

Congress wants to kill the 'backdoor Roth IRA.' Here's what it means for you

Is there nothing that Joe Biden is actually doing, and planning to do, that is worthy of your criticism? Do you have to make shit up that he hasn't even talked about or discussed doing?

Well congratulations Joe Biden!! The idiots are now making up shit like Critical Race Theory, and this crap to attack Democrats. Because they have nothing real to attack you on.

Get back to us when there's a serious proposal on the table.

 

[DBA]

1. Increase the payroll tax from 12.4%

Increase the tax. Wow, brilliant.

2. Increase or eliminate the payroll income cap

Eliminate the cap on the tax but don't increase the payout. In other words, make those that make more money pay more into the system that they will never get back. Yeah, another brilliant, Robin Hood plan.

3. Means-test the income on the back end

For example?

4. Accelerate the increase in FRA

Coupled with the increase in the tax you prose and the removal of the taxable cap, this is just more money you take from the people. What do you know, the equivalent of another tax hike.

You sure are one smart cookie. Maybe you can be hired by Biden and the Democrats to come up with other creative ways to hide the fact that they are increasing taxes. I can promise you it will work on the ignorant folks that vote for people like Biden.

 

[DBA]

So you didn't understand what I wrote.

I'm not surprised.

This is why I don't bother.

Yes, you advocated for higher taxes. I gave you too much credit thinking you at least understood what you were proposing. Pretty scary that you have control of anyone's finances.

 

[boedicca]

Seriously?

1. Increase the payroll tax from 12.4%
2. Increase or eliminate the payroll income cap
3. Means-test the income on the back end
4. Accelerate the increase in FRA
5. Any combination therein

Translation: mug the young to pay for the fact that politicians spent the "Trust Fund".

 

[Mac1958]

Yes, you advocated for higher taxes. I gave you too much credit thinking you at least understood what you were proposing. Pretty scary that you have control of anyone's finances.

Translation: mug the young to pay for the fact that politicians spent the "Trust Fund".

Then cut benefits. Or end Social Security. Run on that. Go ahead.

Or, just keep bitching.