Biden is going to screw us on 401Ks

[Nostra]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

The money used to buy thing you get capital gains on was taxed already, Dummy.

 

[Meister]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

Not only the 401K's, but also on the capital gains when you sell your home.
Yet, Biden stated that taxes wouldn't be raised on the middle class.

Biden is not touching capital gains on the sale of your house. Currently $500,000 for a couple.

Topic no. 701, Sale of your home | Internal Revenue Service

Topic No. 701 Sale of Your Home

www.irs.gov

The optimum word is, 'CURRENTLY'.
Tax codes can change yearly.

No President is dumb enough to take away the home sale exemption.

Other capital gains are up for grabs as is the corporate rate

So says Rightwinger, gives me all the confidence in the world.
Biden says he's not going to raise taxes on the middle class.....just get rid of the Trump tax cuts.
Not sure how this gets reconciled.

It's easy. Raise the upper class and corporate rates, and leave the rates of people making less than $200,000, the same. This part isn't rocket science. The tough part is going through and closing the loop holes, that see companies like Amazon paying nothing. That's obscene.

Show me where Biden has mentioned that, okay?

 

[Dogbiscuit]

Please don't downplay the importance of 401k"s for middle America.

Amen to that. Just got off the phone with one of our sons and I was glad to hear that he has established a 401 at such a young age.

 

[BasicHumanUnit]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

And it's a good thing.
The Right has abandoned it's duty to defend America and the Constitution.
Therefor, everyone needs to lose everything in order to realize how great they HAD it.

I'm voting Harris / Biden FOR AMERICA....so that they can burn it down.

It takes courage to do the right thing and what will ultimately get righties off the couch and into the battle.

They will either learn to fight for their liberties.....or lose them all.

Me? I have an exit plan (after I vote). Not my problem.

So, you saying that in order to save a village sometimes you have to destroy a village?

You are right on one thing. Electing Trump will only kick the can down the road.

We need a Civil War to restore the Constitution and real individual liberty. It ain't gonna be fixed at the bllot box. Too many greedy Left Wing assholes have the ability to vote.

Democracy can produce just as many tyrants as any other form of government.

Well said !!!!

 

[BasicHumanUnit]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

The money used to buy thing you get capital gains on was taxed already, Dummy.

And thats how the Left thinks.
The more taxation the better. Empower government !!!!!
(Too shortsighted to understand that that leads to Socialism....which leads to Communism.

I think many on the Left believe that only through government control can people have their needs met/
This is because they also despise capitalism and the free market system. Both of which gave them their cell phones and computers on which they complain about both.

 

[The Original Tree]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

Biden is committed to The New World Order and Globalism, while Trump is a Nationalist.

Trump is the first president in the modern age not to start a single new war in his term. Peace is breaking out in The Middle East.

Obama, Bush, Clinton, Biden are all Globalists. Biden will take America in to WWIII the minute he assumes power. He will confiscate The Wealth of this country and do exactly what his UN "Sustainable Development" masters tell him to do, and that is to redistribute it. Biden also believes in The Depopulation of Earth down to 50, Million People "World Wide"
Harris is completely aligned with him on this and so is The Democrat Party.

You have more to worried about than your 401K. Your house will eventually become the Property of The State under Biden-Harris. They do not believe in private ownership of property.

 

[Dragonlady]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

So Biden IS RAISING TAXES on the middle class, but...but

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You might want to give consideration that the people making these claims that the sky is falling, are the people who SELL 401K's, and who may see their commission decline if the rules are changed. They're not looking out for your best interests, they're trying to frighten you into voting for THEIR best interests.

Whenever I see piece like this, I always look to see who's ox is being gored here, and whose interests are being looked out for here.

Given that the stock market always does better under Democrats than Republicans, it's quite likely that those with 401K's will see the value of their portfolios rise more under Biden than Trump, which will more than compensate them for any increases in their taxes. That won't help the brokers selling these 401K's since they only make money on your purchases, not your investment returns.

The stock market more than doubled in Obama's first term. The DOW Jones is up less than 20% in Trump's first term. So if my portfolio doubles in value in 4 years, I've have a whole lot more wealth under Obama. Even if I do have to pay an extra 5% of of that increase in taxes, I'm still up more by 75% over Trump's growth.

 

[BasicHumanUnit]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

Biden is committed to The New World Order and Globalism, while Trump is a Nationalist.

Trump is the first president in the modern age not to start a single new war in his term. Peace is breaking out in The Middle East.

Obama, Bush, Clinton, Biden are all Globalists. Biden will take America in to WWIII the minute he assumes power. He will confiscate The Wealth of this country and do exactly what his UN "Sustainable Development" masters tell him to do, and that is to redistribute it. Biden also believes in The Depopulation of Earth down to 50, Million People "World Wide"
Harris is completely aligned with him on this and so is The Democrat Party.

You have more to worried about than your 401K. Your house will eventually become the Property of The State under Biden-Harris. They do not believe in private ownership of property.

So true......

But not ONE of the ever vocal leftists can digest TRUTH.

It just isn't in their DNA

Leftists are the exclusive reason Communism and Dictators periodically appear on Earth.

Makes you wonder what the cure really is.

 

[Nostra]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

So Biden IS RAISING TAXES on the middle class, but...but

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You might want to give consideration that the people making these claims that the sky is falling, are the people who SELL 401K's, and who may see their commission decline if the rules are changed. They're not looking out for your best interests, they're trying to frighten you into voting for THEIR best interests.

Whenever I see piece like this, I always look to see who's ox is being gored here, and whose interests are being looked out for here.

Given that the stock market always does better under Democrats than Republicans, it's quite likely that those with 401K's will see the value of their portfolios rise more under Biden than Trump, which will more than compensate them for any increases in their taxes. That won't help the brokers selling these 401K's since they only make money on your purchases, not your investment returns.

The stock market more than doubled in Obama's first term. The DOW Jones is up less than 20% in Trump's first term. So if my portfolio doubles in value in 4 years, I've have a whole lot more wealth under Obama. Even if I do have to pay an extra 5% of of that increase in taxes, I'm still up more by 75% over Trump's growth.

Joe said he is getting rid of the Trump tax cuts. That means EVERYONE’S taxes would go up, Stupid.

 

[Flash]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

The article seems to think the reason small businesses offer retirement benefits is so that the owner and higher income employees benefit. Funny, I thought the reason employers offered retirement benefits was to attract and keep workers.

It is a solid plan. Currently higher income employees derive a greater benefit from 401K contributions. This proposal "levels the playing field". Low income workers will derive the same benefit, dollar for dollar, as high income workers. Opposition to this proposal removes all doubt, Republicans have never been for leveling the playing field and I have always been driven by Proverbs.

The rich man’s wealth is his strong city; The destruction of the poor is their poverty.
Proverbs 10:15

You stupid greedy Moon Bats are more concerned about what you morons call "fairness" than you are about the economy of the US.

You Moon Bats don't know any more about Economics than you do History, Climate Science, Biology, Ethics or the Constitution.

We saw what happen when the idiot Moon Bats tried to make healthcare more "fair" by giving insurance subsides to the filthy welfare queens. It ran up the cost of premiums, deductibles and co payments for the paying customers.

Remember what happen when you Left Wing idiots tried to make the lending industry more fair for the people that had neither the means or the inclination to pay back the loans? You passed the filthy ass CRA and a few years later it almost bankrupted the economy.

Many more examples like using billions of Federal dollars to make the education system more fair but having test scores decline or pouring trillions into welfare and having the poverty rate not change or increase like when Obama was President.

The convoluted greedy concept of "fairness" is always a destructive factor in failed Socialist countries.

Trying to make 401Ks more "fair" is going to fuck up something that is the bedrock of retirement for many Americans.

Things will get screwed up and you idiot Libtards will never take the responsibility for yet another disastrous outcome.

 

[conserveguy877]

I think Biden is correct in that a tax break is not a big incentive for poor people to save for retirement. They do not pay much in taxes as it is.

He should also encourage more saving in a Roth IRA. Now that I am retired, I wish I had more money in funds I do not have to pay taxes on.

But we take your advice on anything to bash Trump. Come on, man.. you do cocaine?

 

[Dogbiscuit]

The stock market more than doubled in Obama's first term

Im not 100% sure how to read these charts ,but it appears that you might be wrong.

Dow Jones Industrial Average Historical Prices Charts - xHistorical Commodity Futures Charts' : CBOT

This continuous historical price chart for Dow Jones Industrial Average futures (DJ, CBOT) is part of a huge collection of historical charts that covers decades of North America futures / commodity trading. In addition to continuous charts, the collection includes thousands of single-contract...

futures.tradingcharts.com

Dow Jones Industrial Average Historical Prices Charts - xHistorical Commodity Futures Charts' : CBOT

This continuous historical price chart for Dow Jones Industrial Average futures (DJ, CBOT) is part of a huge collection of historical charts that covers decades of North America futures / commodity trading. In addition to continuous charts, the collection includes thousands of single-contract...

futures.tradingcharts.com

 

[Meister]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

So Biden IS RAISING TAXES on the middle class, but...but

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You might want to give consideration that the people making these claims that the sky is falling, are the people who SELL 401K's, and who may see their commission decline if the rules are changed. They're not looking out for your best interests, they're trying to frighten you into voting for THEIR best interests.

Whenever I see piece like this, I always look to see who's ox is being gored here, and whose interests are being looked out for here.

Given that the stock market always does better under Democrats than Republicans, it's quite likely that those with 401K's will see the value of their portfolios rise more under Biden than Trump, which will more than compensate them for any increases in their taxes. That won't help the brokers selling these 401K's since they only make money on your purchases, not your investment returns.

The stock market more than doubled in Obama's first term. The DOW Jones is up less than 20% in Trump's first term. So if my portfolio doubles in value in 4 years, I've have a whole lot more wealth under Obama. Even if I do have to pay an extra 5% of of that increase in taxes, I'm still up more by 75% over Trump's growth.

Yet Joe also stated he is getting rid of Trump's tax cuts....which raises taxes on the middle class. He also stated last winter that YES taxes are going to be raised.


At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected.




Biden: "By the way, how many of you did really well with that $1.9 trillion tax cut..."

[Voter raises a hand to say he benefited from the Trump tax cut.]

Biden: "Well you did! Well, that's good. I'm glad to see you are doing well already. But guess what, if you elect me, your taxes are going to be raised, not cut, if you benefited from that."

Biden: "If you elect me, your taxes are going to be raised" - Americans for Tax Reform

At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected. Biden: “By the way, how many of you did really well with that $1.9 trillion tax cut…” [Voter raises a hand to say […]

www.atr.org

 

[Flash]

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You can't rust the lying sonofabitch.

The Obama/Biden administration promised that they would never raise taxes on anybody making less than $250K year and they sure as hell did raise taxes that affected Americans making less than $250K a year.

Why vote for a proven liar like Biden? You would be an idiot if you did.

In addition any increased taxes will hurt the economy and reduce government revenue. Increase taxation is always a disaster for the economy. When that asshole Obama raised taxes the debt grew by ten trillion, poverty increased, family income decreased, welfare increased and we had dismal economic growth. Failed Left Wing Economics. Proven over and over again.

 

[Nostra]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

So Biden IS RAISING TAXES on the middle class, but...but

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You might want to give consideration that the people making these claims that the sky is falling, are the people who SELL 401K's, and who may see their commission decline if the rules are changed. They're not looking out for your best interests, they're trying to frighten you into voting for THEIR best interests.

Whenever I see piece like this, I always look to see who's ox is being gored here, and whose interests are being looked out for here.

Given that the stock market always does better under Democrats than Republicans, it's quite likely that those with 401K's will see the value of their portfolios rise more under Biden than Trump, which will more than compensate them for any increases in their taxes. That won't help the brokers selling these 401K's since they only make money on your purchases, not your investment returns.

The stock market more than doubled in Obama's first term. The DOW Jones is up less than 20% in Trump's first term. So if my portfolio doubles in value in 4 years, I've have a whole lot more wealth under Obama. Even if I do have to pay an extra 5% of of that increase in taxes, I'm still up more by 75% over Trump's growth.

The stock market didn’t “more than double” in Obama’s first term, liar.

DOW was 7949 when he took office, 13,600 when he started his second term.

Are you math illiterate, or a lying sack of shit.....or both?

 

[Juicin]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

wow your 401k you might never see

Unless they're doing a lot of matching or something just ignore that shit, you manage your money better than your company.

And if they go down you don't have to go down with them

401ks are a scam unless your employer is very old and very profitable. Do not put any money into them that isn't matched

 

[Nostra]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

So Biden IS RAISING TAXES on the middle class, but...but

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You might want to give consideration that the people making these claims that the sky is falling, are the people who SELL 401K's, and who may see their commission decline if the rules are changed. They're not looking out for your best interests, they're trying to frighten you into voting for THEIR best interests.

Whenever I see piece like this, I always look to see who's ox is being gored here, and whose interests are being looked out for here.

Given that the stock market always does better under Democrats than Republicans, it's quite likely that those with 401K's will see the value of their portfolios rise more under Biden than Trump, which will more than compensate them for any increases in their taxes. That won't help the brokers selling these 401K's since they only make money on your purchases, not your investment returns.

The stock market more than doubled in Obama's first term. The DOW Jones is up less than 20% in Trump's first term. So if my portfolio doubles in value in 4 years, I've have a whole lot more wealth under Obama. Even if I do have to pay an extra 5% of of that increase in taxes, I'm still up more by 75% over Trump's growth.

DOW up less than 20% under Trump?

DOW when he took office: 19,800
DOW Now: 28,600

Are you math illiterate, a lying sack of shit, or both?

 

[toobfreak]

Biden is talking about taxing dividend income as ordinary income as well.

All capital gains should be taxed as ordinary income. Money you worked for should not be taxed higher than investment income.

So Biden IS RAISING TAXES on the middle class, but...but

Joe expressing an opinion that taxes SHOULD be raised, does not mean that Biden is raising taxes. Biden has been clear. Taxes on those earning less than $200,000 will not be raised.

You might want to give consideration that the people making these claims that the sky is falling, are the people who SELL 401K's, and who may see their commission decline if the rules are changed. They're not looking out for your best interests, they're trying to frighten you into voting for THEIR best interests.

Whenever I see piece like this, I always look to see who's ox is being gored here, and whose interests are being looked out for here.

Given that the stock market always does better under Democrats than Republicans, it's quite likely that those with 401K's will see the value of their portfolios rise more under Biden than Trump, which will more than compensate them for any increases in their taxes. That won't help the brokers selling these 401K's since they only make money on your purchases, not your investment returns.

The stock market more than doubled in Obama's first term. The DOW Jones is up less than 20% in Trump's first term. So if my portfolio doubles in value in 4 years, I've have a whole lot more wealth under Obama. Even if I do have to pay an extra 5% of of that increase in taxes, I'm still up more by 75% over Trump's growth.

Yet Joe also stated he is getting rid of Trump's tax cuts....which raises taxes on the middle class. He also stated last winter that YES taxes are going to be raised.
At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected.
Biden: "By the way, how many of you did really well with that $1.9 trillion tax cut..."
[Voter raises a hand to say he benefited from the Trump tax cut.]
Biden: "Well you did! Well, that's good. I'm glad to see you are doing well already. But guess what, if you elect me, your taxes are going to be raised, not cut, if you benefited from that."

A review I read recently by an independent tax expert said that while all tax payers saved money, the category of people who proportionally got the biggest tax savings were earners in the $50,000 to $70,000 income range. So Trump was right when he said his tax cuts were for the middle class.

 

[The Original Tree]

Fairness is code for equal poverty.

All ya have to do is open your eyes.....btw the speed with which you are destroying small business this legislations premise will be mute

That is part of The UN's Sustainable Development Goals. They want Centralized Management of a Global Economy and that eventually means no privately owned businesses and no privately owned property.

 

[Flash]

Because Biden is a stupid socialist obsessed with trying to make things more "fair" he is going to screw up 401K accounts.

Liberals fuck up everything they touch.

Biden's plan to overhaul 401(k) tax breaks could force some companies to cut retirement benefits

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

news.yahoo.com

A frequently overlooked part of Democratic presidential nominee Joe Biden's platform would upend the traditional tax preferences of retirement accounts like 401(k) plans — a change that industry experts warned could force some small companies to cut those benefits.

Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

wow your 401k you might never see

Unless they're doing a lot of matching or something just ignore that shit, you manage your money better than your company.

And if they go down you don't have to go down with them

401ks are a scam unless your employer is very old and very profitable. Do not put any money into them that isn't matched

My wife and I saved up quite a bit of 401K during our 30 year careers.

We made the right investment choice and get a nice interest payment every month while preserving the principal for our children and grandkids.

Like everything else the filthy ass stupid Libtards are bound and determined to screw it up.

If I would have had that 7.5% that the filthy ass government stole from us for Social Security and gave me a piss poor return I have a lot more money coming in every month.

Just like that school district in South Texas that managed to opt out of Social Security and their monthly retirement is like twice or more than what they would have received under SS.