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We should give the money to the government to safeguard for our retirement?????????????????????????????????????????????? Fuck no!
??? Do you know what a 401K is and what it is not?
Income taxes are deferred on your 401k contributions, so you make money on both your money and the deferred taxes. Also when you do retire and begin withdrawing money from your 401k you are likely to be at a lower tax bracket, again resulting in more money for your retirement. That bozo Pelosi doesn't want to wait for people to retire to get her hands on the income tax money, she want's it right now so she can spend it.
Christ people DC has already spent every dime you sent them, plus borrowed another $20 trillion and spent that. They have forced us to contribute HUGE sums of money to Social Security, which they have raided multiple times and have no way of paying us back OUR money. So now they want to screw us out of the social security benefits we were forced to purchase via raising the retirement age and hoping most people die before they can collect a dime.
That's the line if you believe it but in reality you have no control over what tax bracket you will be in. The government tell you what you MUST withdraw every year so if you were a diligent saver you might end up in a higher bracket than you think.
And if you don't take out what the government tells you to you get fucked up the ass without lube by 50% penalties.
401ks are a crock of dogshit. It's another human controlling your money, like social security is.
Suuuure you can borrow some of..your own money. For a penalty.........
ermmkayy
401ks are a crock of dogshit. It's another human controlling your money, like social security is.
Suuuure you can borrow some of..your own money. For a penalty.........
ermmkayy
Im sure we will be fine. The sun will still rise, etc etcThe tax break for IRAs/401ks incentivizes people in the middle and lower incomes to save money that they're going to need when they hit retirement cuz the SSA and/or their pension plans might not be paying them in the future as advertised. It is a very good idea, and yes it should be capped to something like $18-24k cuz the rich guys don't need it. We don't have a tax and revenue problem, we have a spending problem that nobody has the guts to do anything about. All you kids out there under 50, you're fucked but most of you don't know it yet.
I find it hard to disagree with that, honestly.401ks are a crock of dogshit. It's another human controlling your money, like social security is.
Suuuure you can borrow some of..your own money. For a penalty.........
ermmkayy
Im sure we will be fine. The sun will still rise, etc etcThe tax break for IRAs/401ks incentivizes people in the middle and lower incomes to save money that they're going to need when they hit retirement cuz the SSA and/or their pension plans might not be paying them in the future as advertised. It is a very good idea, and yes it should be capped to something like $18-24k cuz the rich guys don't need it. We don't have a tax and revenue problem, we have a spending problem that nobody has the guts to do anything about. All you kids out there under 50, you're fucked but most of you don't know it yet.
So has it been for all of history.Im sure we will be fine. The sun will still rise, etc etcThe tax break for IRAs/401ks incentivizes people in the middle and lower incomes to save money that they're going to need when they hit retirement cuz the SSA and/or their pension plans might not be paying them in the future as advertised. It is a very good idea, and yes it should be capped to something like $18-24k cuz the rich guys don't need it. We don't have a tax and revenue problem, we have a spending problem that nobody has the guts to do anything about. All you kids out there under 50, you're fucked but most of you don't know it yet.
Yeah, but there's a lot of people that are somewhat less fortunate than you and me. The future will arrive fr them as you say but it may not be very pleasant.
So has it been for all of history.Im sure we will be fine. The sun will still rise, etc etcThe tax break for IRAs/401ks incentivizes people in the middle and lower incomes to save money that they're going to need when they hit retirement cuz the SSA and/or their pension plans might not be paying them in the future as advertised. It is a very good idea, and yes it should be capped to something like $18-24k cuz the rich guys don't need it. We don't have a tax and revenue problem, we have a spending problem that nobody has the guts to do anything about. All you kids out there under 50, you're fucked but most of you don't know it yet.
Yeah, but there's a lot of people that are somewhat less fortunate than you and me. The future will arrive fr them as you say but it may not be very pleasant.
Okay. You do know what a 401K is. TY for clearing that up.We should give the money to the government to safeguard for our retirement?????????????????????????????????????????????? Fuck no!
??? Do you know what a 401K is and what it is not?
Income taxes are deferred on your 401k contributions, so you make money on both your money and the deferred taxes. Also when you do retire and begin withdrawing money from your 401k you are likely to be at a lower tax bracket, again resulting in more money for your retirement. That bozo Pelosi doesn't want to wait for people to retire to get her hands on the income tax money, she want's it right now so she can spend it.
Christ people DC has already spent every dime you sent them, plus borrowed another $20 trillion and spent that. They have forced us to contribute HUGE sums of money to Social Security, which they have raided multiple times and have no way of paying us back OUR money. So now they want to screw us out of the social security benefits we were forced to purchase via raising the retirement age and hoping most people die before they can collect a dime.
Yes, and had the OP included some set of facts, details, qualities, etc., something beyond a question and that can therefore be used to point to a specific theme for a would-be discussion, I might then address those elements or some of them. Insofar as the OP and title do nothing but ask neutrally phrased questions about what be our position on the matter and why we have it, there is no basis for inferring what having to do with 401Ks the OP-er wants to discuss, or whether he even wants to have a discussion.Were I to have my way, there'd be no cap at all
Its capped otherwise the left would wail like a stuck pig claiming it was a loophole for the 'rich'.
That really has nothing to do with the question. The OP-er asked what we think; my post indicates what I think. I've thus answered the question posed as it is posed. The why's and wherefores about what someone else may think of the cap's origins or intended purposes have nothing to do with my answer, and neither did the OP-er "color" his OP so much as even by alluding (obliquely or clearly) to the whys and wherefores; thus they also have nothing to do with his question.
Its called a discussion thread not a question and answer thread. Lets talk facts...FACT the government is one again kicking the idea around about how to take OUR money and spend it FACT!
Okay. You do know what a 401K is. TY for clearing that up.
The OP doesn't ask about anything Pelosi has said about 401K plans. What does what she has to say about them have to do with what I or any other member here answering the OP's question think about the question that the OP-er asked? I'm certainly not going to form my normative opinion about the cap based on what she or any other individual says or thinks of the matter. Sure, my "ultimate" answer -- yes or no -- may be the same as that of others, but my basis for arriving at that "final answer" has nothing to do with what others have to say/think of the matter.
Given that I, presumably most people, form my opinions based on my analysis of a matter, I'm still trying to figure out what point there is to your introducing what Pelosi (others?) have to say about. Are you saying that you oppose lowering the cap because Pelosi wants to lower it? If that's your reason for having the stance you do, well, okay....The OP only asks for a "final" answer and one's reasons for having that answer. If that be yours, I have nothing to say about that because, AFAIK, the OP/title merely entreats us to share our views, not debate their merit(s). Accordingly, the OP strikes me as a simple inquiry rather than as a discussion/debate rubric.
(Were this an academically and socratically discursive setting, sure, I'd think of the OP/title question as a bid for an argumentative essay (or something like one), but this isn't such a setting; thus, insofar as the OP-er didn't share his own position on the matter, I interpreted the questions as reflections of nothing more than mere curiosity, perhaps a quest to obtain some new ideas, about what others think on the matter.)
Yes, and had the OP included some set of facts, details, qualities, etc., something beyond a question and that can therefore be used to point to a specific theme for a would-be discussion, I might then address those elements or some of them. Insofar as the OP and title do nothing but ask neutrally phrased questions about what be our position on the matter and why we have it, there is no basis for inferring what having to do with 401Ks the OP-er wants to discuss, or whether he even wants to have a discussion.Were I to have my way, there'd be no cap at all
Its capped otherwise the left would wail like a stuck pig claiming it was a loophole for the 'rich'.
That really has nothing to do with the question. The OP-er asked what we think; my post indicates what I think. I've thus answered the question posed as it is posed. The why's and wherefores about what someone else may think of the cap's origins or intended purposes have nothing to do with my answer, and neither did the OP-er "color" his OP so much as even by alluding (obliquely or clearly) to the whys and wherefores; thus they also have nothing to do with his question.
Its called a discussion thread not a question and answer thread. Lets talk facts...FACT the government is one again kicking the idea around about how to take OUR money and spend it FACT!
There are also people who know that, barring major calamity, they will be in what is qualitatively the same tax bracket when they retire as they were in during their years of employment.We should give the money to the government to safeguard for our retirement?????????????????????????????????????????????? Fuck no!
??? Do you know what a 401K is and what it is not?
Income taxes are deferred on your 401k contributions, so you make money on both your money and the deferred taxes. Also when you do retire and begin withdrawing money from your 401k you are likely to be at a lower tax bracket, again resulting in more money for your retirement. That bozo Pelosi doesn't want to wait for people to retire to get her hands on the income tax money, she want's it right now so she can spend it.
Christ people DC has already spent every dime you sent them, plus borrowed another $20 trillion and spent that. They have forced us to contribute HUGE sums of money to Social Security, which they have raided multiple times and have no way of paying us back OUR money. So now they want to screw us out of the social security benefits we were forced to purchase via raising the retirement age and hoping most people die before they can collect a dime.
That's the line if you believe it but in reality you have no control over what tax bracket you will be in. The government tell you what you MUST withdraw every year so if you were a diligent saver you might end up in a higher bracket than you think.
And if you don't take out what the government tells you to you get fucked up the ass without lube by 50% penalties.
Okay. You do know what a 401K is. TY for clearing that up.
The OP doesn't ask about anything Pelosi has said about 401K plans. What does what she has to say about them have to do with what I or any other member here answering the OP's question think about the question that the OP-er asked? I'm certainly not going to form my normative opinion about the cap based on what she or any other individual says or thinks of the matter. Sure, my "ultimate" answer -- yes or no -- may be the same as that of others, but my basis for arriving at that "final answer" has nothing to do with what others have to say/think of the matter.
Given that I, presumably most people, form my opinions based on my analysis of a matter, I'm still trying to figure out what point there is to your introducing what Pelosi (others?) have to say about. Are you saying that you oppose lowering the cap because Pelosi wants to lower it? If that's your reason for having the stance you do, well, okay....The OP only asks for a "final" answer and one's reasons for having that answer. If that be yours, I have nothing to say about that because, AFAIK, the OP/title merely entreats us to share our views, not debate their merit(s). Accordingly, the OP strikes me as a simple inquiry rather than as a discussion/debate rubric.
(Were this an academically and socratically discursive setting, sure, I'd think of the OP/title question as a bid for an argumentative essay (or something like one), but this isn't such a setting; thus, insofar as the OP-er didn't share his own position on the matter, I interpreted the questions as reflections of nothing more than mere curiosity, perhaps a quest to obtain some new ideas, about what others think on the matter.)
Yes, my point was if government is going to reduce our long term 401k retirement savings by taking the income taxes now vs deferring them, then they have to use part of the money to replace the lost retirement funds down the road. I'm 99.99% certain that's not going to happen, they will spend it all.
And that's just the tip of the iceberg, choke off 401k contributions to the stock and bond markets and what will happen? Even I am amazed at how dumb DC is sometimes.
my point was if government is going to reduce our long term 401k retirement savings by taking the income taxes now vs deferring them, then they have to use part of the money to replace the lost retirement funds down the road.
choke off 401k contributions to the stock and bond markets and what will happen?
Thanks for putting words in my mouth.Yea, let the fukers get old and starve It's what they get for having families.I would argue no caps of any kind. Lends itself to people being responsible and saving for their own retirement instead of expecting Uncle Sam to.Why or why not?
In fact, why even have an army. What are we protecting. Just fuk everything. Every man for himself.
The problem with that is that the government makes god damned sure you withdraw it all before you dieThe money will be taxed when it is withdrawn. So I like the higher cap.
We should give the money to the government to safeguard for our retirement?????????????????????????????????????????????? Fuck no!
??? Do you know what a 401K is and what it is not?
Income taxes are deferred on your 401k contributions, so you make money on both your money and the deferred taxes. Also when you do retire and begin withdrawing money from your 401k you are likely to be at a lower tax bracket, again resulting in more money for your retirement. That bozo Pelosi doesn't want to wait for people to retire to get her hands on the income tax money, she want's it right now so she can spend it.
Christ people DC has already spent every dime you sent them, plus borrowed another $20 trillion and spent that. They have forced us to contribute HUGE sums of money to Social Security, which they have raided multiple times and have no way of paying us back OUR money. So now they want to screw us out of the social security benefits we were forced to purchase via raising the retirement age and hoping most people die before they can collect a dime.
That's the line if you believe it but in reality you have no control over what tax bracket you will be in. The government tell you what you MUST withdraw every year so if you were a diligent saver you might end up in a higher bracket than you think.
And if you don't take out what the government tells you to you get fucked up the ass without lube by 50% penalties.
AVERAGE retirees will be in a lower bracket. Yes some may end up paying in a higher bracket, we all should be so lucky to make more money retired than when working. And yes at some point government forces you to make withdrawals so it can get its greedy hands on the money.
I'd fix governments ass on the 401k's, I'd pass legislation making them tax free then government won't get jack shit how'd they like that, fuckers.
Usually it's dollar for dollar up to a certain percentage.I find it hard to disagree with that, honestly.401ks are a crock of dogshit. It's another human controlling your money, like social security is.
Suuuure you can borrow some of..your own money. For a penalty.........
ermmkayy
However, having dollar for dollar matched by my employer is the awesome! Thats why i started mine lol. Considering my massive gains the last year in a half, id say it wasnt a bad decision.
Of course, i could lose it all tomorrow :/
