Economists propose axing 401(k), IRA tax benefits to help fund Social Security

[Fort Fun Indiana]

Who wrote off $10 million when they made 401K contributions? Link?

While I will do no work to correct your bizarre misunderstandings, I will point you to the Build Back Better plan to read about this yourself.

 

[Toddsterpatriot]

Alright, back to the thread after another derail attempt.

The obvious solution is to raise the contribution cap for SS.

But one party licks the boots of the rich.

Taxing the rich more and then paying them more doesn't balance the books.

 

[Fort Fun Indiana]

Taxing the rich more and then paying them more doesn't balance the books.

Unless, of course, the contribution increase is greater than the benefit increase.

Need to borrow my abacus?

 

[Toddsterpatriot]

So you can say something wrong and stupid about it agan? You don't need my help.

Yes, as it turns out, capital investment does indeed help pay dividends and buy back stock.

But these companies have expected future revenue. Else they would fail, and the executives would go to prison.

So you can say something wrong and stupid about it agan?

Pointing out your stupid error doesn't help me? Moron.

Yes, as it turns out, capital investment does indeed help pay dividends and buy back stock.

Show me a single firm that said they were offering new shares to fund a buyback of old shares and I'll stop calling you a moron.

 

[Toddsterpatriot]

While I will do no work to correct your bizarre misunderstandings, I will point you to the Build Back Better plan to read about this yourself.

The OP is about too many people paying less in current taxes by contributing to tax deferred accounts. Nothing about people with a $10 million balance. Nothing about someone paying more taxes, today, by converting to a Roth. Moron.

 

[Fort Fun Indiana]

So you can say something wrong and stupid about it agan?

Pointing out your stupid error doesn't help me? Moron.

Yes, as it turns out, capital investment does indeed help pay dividends and buy back stock.

Show me a single firm that said they were offering new shares to fund a buyback of old shares and I'll stop calling you a moron.

That wouldn't be necessary to make my point.

As it turns out, a company can and does sell stock to one person while buying back the stock of another. If no expected revenue,l to support this, then the pyramid scheme eventually falls apart.

I can't dumb it down any further for you. Good luck.

 

[Fort Fun Indiana]

The OP is about too many people paying less in current taxes by contributing to tax deferred accounts. Nothing about people with a $10 million balance. Nothing about someone paying more taxes, today, by converting to a Roth. Moron.

Right, it was your derail attempt that led to that sidebar. I am happy to leave both it and your derail trolling behind.

 

[Toddsterpatriot]

Unless, of course, the contribution increase is greater than the benefit increase.

Need to borrow my abacus?

How much greater? Why not just eliminate Social Security benefits altogether for the rich?

 

[Toddsterpatriot]

Right, it was your derail attempt that led to that sidebar. I am happy to leave both it and your derail trolling behind.

My "derail attempt" made you post all your idiotic errors? DURR

 

[Toddsterpatriot]

That wouldn't be necessary to make my point.

As it turns out, a company can and does sell stock to one person while buying back the stock of another. If no expected revenue,l to support this, then the pyramid scheme eventually falls apart.

I can't dumb it down any further for you. Good luck.

As it turns out, a company can and does sell stock to one person while buying back the stock of another.

Prove it.

 

[KissMy]

Trump printed all the value out of our savings, stole our gold from Fort Knox & depleted our US oil reserves.

Trump had his appointee Steven Terner Mnuchin print 5 times more US Dollars.

Trump had Mnuchin & McConnell steal our gold from Fort Knox.

Trump had his appointee Danny Ray Brouillette deplete oil from our SPR.

 

[ThunderKiss1965]

3 relief bills were passed by Republican Senate & signed into law by President Donald Trump early in 2020: $8 billion on March 6, then $192 billion on March 18, then $2 trillion CARES act on March 27, 2020. Then Trump kept on signing, printing & spending & spending & spending.............. Until 55% of Trump's economy was government spending. Trump printed 5 times more than all other presidents combined!

Did you miss the part where I stated Trump spent like a drunken Democrat ? During the Obama presidency the national debt doubled but of course people like yourself ignore the spending of Liberals. I call out every administration because I'm not a partisan hack.

 

[Concerned American]

3 relief bills were passed by Republican Senate & signed into law by President Donald Trump early in 2020: $8 billion on March 6, then $192 billion on March 18, then $2 trillion CARES act on March 27, 2020. Then Trump kept on signing, printing & spending & spending & spending.............. Until 55% of Trump's economy was government spending. Trump printed 5 times more than all other presidents combined!

Democrat Congress, Trump didn't write the bill--he signed what the democrat majority produced--isn't that how you say a democracy works? Hmmm.

 

[Jarlaxle]

If they pay twice as much into the system, will they get twice the benefit?

Of course not, he just wants to take more.

You don't know what a Ponzi scheme is and should probably not comment again until you read up.

Hint: people will never stop being born or working.

Either you do not understand math or you are lying. Which is it?

Economists Alicia Munnell and Andrew Biggs argue how subsidies for these retirement plans, which they say fail to “significantly boost national saving,” could be diverted to fund Social Security instead — which is set to run short of cash by 2033.

Subsidize something, get more of it.
I guess they want to reduce retirement savings.
Fucking useless liberal economists.

The brief points to Treasury estimates that the tax preference for employer-sponsored retirement plans and IRAs reduced federal income taxes by about $185 billion in 2020 — equivalent to about 0.9% of gross domestic product.

That's easy, cut federal spending by $185 billion from 2020 levels.
And next year, cut it by $370 billion from 2020 levels.
Keep going until we make up for all the bad retirement savings back to 1989.

No, they want to eliminate retirement savings, and make everyone 100% dependent on the government for survival in retirement.

Dems want to axe 401K and IRA tax benefits, but Republicans
don't want to do that, because they lick the boots of the rich.

Was that kinda what you were going for in post #6?
Or were you making some other unrelated point?

I have no idea what, if anything, he was attempting to say. Nor, I suspect, does he.

A pile of half truths and lies.

The changes democrats want to those plans are only for the wealthy and large balances.

Democrats want to oncrease(sic) the cap for SDS withholding.

Republicans want to privatized(sic) it altogether and give rich people a blow job.

Every word of that is a lie.

 

[Jarlaxle]

(image spam and dishonest screed deleted)

Every word you posted is a lie.

 

[Dont Taz Me Bro]

The understand they live in a society where one major party licks the boots of rich people.

Just one?

 

[Lisa558]

Let’s start with the fact that almost 50% of Americans pay nothing toward the government. A flat tax of 5% on those who have up until now enjoyed the benefits of the government without pitching in a cent.

That should include people on welfare. They can cut down on their cigarettes and booze. I know someone whose family is on food stamps who is at the bar 3 nights a week, drinking up a storm. It’s quite common.