BluesLegend
Diamond Member
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.