Only 13% of business' tax cuts are going to workers, survey says

[rightwinger]

lol 401K's are a scam; if they weren't you wouldn't have them. Those of you who don't have them are better off.

Workers never get 'tax breaks', ever. They shouldn't be paying taxes in the first place, since wages aren't income, except in fake economic models invented in the late 20th century, so taxes could be shifted off on workers and away from already heavily subsidized big businesses.

How are 401K's a "scam?" .

Why not just buy lottery tickets? That's all you get with 401K's. What will the pot be when one retires? Round and round it goes, where it lands nobody knows.

Social Security is just fine, despite all the spin you get from idiots who want to 'manage' your 401K's for you, and loot them.

No one forces you to contribute to a 401k. That alone makes it orders of magnitude better than SS, which is a certifiable Ponzi Scheme. There's norhing "fine" about it. It's bankrupt.

lol it isn't 'bankrupt'; that's a load of rubbish. 401K's are trash bets,; so what if they're 'voluntary'? Most workers can't afford to put anything into them any more. guess how many people start drawing money out of them early? lol lol lol

Of course it's bankrupt. There isn't a dime of real money in the trust fund. 401Ks are "trash brets?" wrong. Virtually everyone comes out ahead when they put their money in a 401K. It's not gambling. Whether you have money to put in them or take it out early doesn't alter the fact that you still end up on the plus side financially.

401k is a good supplement to Social Security

 

[Skull Pilot]

How are 401K's a "scam?" .

Why not just buy lottery tickets? That's all you get with 401K's. What will the pot be when one retires? Round and round it goes, where it lands nobody knows.

Social Security is just fine, despite all the spin you get from idiots who want to 'manage' your 401K's for you, and loot them.

No one forces you to contribute to a 401k. That alone makes it orders of magnitude better than SS, which is a certifiable Ponzi Scheme. There's norhing "fine" about it. It's bankrupt.

lol it isn't 'bankrupt'; that's a load of rubbish. 401K's are trash bets,; so what if they're 'voluntary'? Most workers can't afford to put anything into them any more. guess how many people start drawing money out of them early? lol lol lol

Of course it's bankrupt. There isn't a dime of real money in the trust fund. 401Ks are "trash brets?" wrong. Virtually everyone comes out ahead when they put their money in a 401K. It's not gambling. Whether you have money to put in them or take it out early doesn't alter the fact that you still end up on the plus side financially.

401k is a good supplement to Social Security

No SS is a supplement to your own retirement savings

and you'd be better off with a Roth IRA

 

[BluesLegend]

lol 401K's are a scam; if they weren't you wouldn't have them. Those of you who don't have them are better off.

Workers never get 'tax breaks', ever. They shouldn't be paying taxes in the first place, since wages aren't income, except in fake economic models invented in the late 20th century, so taxes could be shifted off on workers and away from already heavily subsidized big businesses.

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

 

[Skull Pilot]

lol 401K's are a scam; if they weren't you wouldn't have them. Those of you who don't have them are better off.

Workers never get 'tax breaks', ever. They shouldn't be paying taxes in the first place, since wages aren't income, except in fake economic models invented in the late 20th century, so taxes could be shifted off on workers and away from already heavily subsidized big businesses.

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

 

[BluesLegend]

lol 401K's are a scam; if they weren't you wouldn't have them. Those of you who don't have them are better off.

Workers never get 'tax breaks', ever. They shouldn't be paying taxes in the first place, since wages aren't income, except in fake economic models invented in the late 20th century, so taxes could be shifted off on workers and away from already heavily subsidized big businesses.

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

 

[Winston]

lol 401K's are a scam; if they weren't you wouldn't have them. Those of you who don't have them are better off.

Workers never get 'tax breaks', ever. They shouldn't be paying taxes in the first place, since wages aren't income, except in fake economic models invented in the late 20th century, so taxes could be shifted off on workers and away from already heavily subsidized big businesses.

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

That is just ignorant as hell. The capital gains tax rate is 15%, anyone making over $38,700 is going to pay more.

 

[bripat9643]

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

It isn't the government's money.

 

[Winston]

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

It is a sucker's bet. You can pay a little now, put in a Roth, and not pay anything on the gains. Or you can pay nothing now and pay a lot later, when you have to pay taxes on the gains.

 

[BluesLegend]

lol 401K's are a scam; if they weren't you wouldn't have them. Those of you who don't have them are better off.

Workers never get 'tax breaks', ever. They shouldn't be paying taxes in the first place, since wages aren't income, except in fake economic models invented in the late 20th century, so taxes could be shifted off on workers and away from already heavily subsidized big businesses.

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

That is just ignorant as hell. The capital gains tax rate is 15%, anyone making over $38,700 is going to pay more.

Oh God the irony. A married couple who withdraw $60,000 from their 401k will owe 6% federal income tax. That's with the standard deduction. Do you know which is lower 6% or 15%?

 

[BluesLegend]

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

It isn't the government's money.

I'm undercover in the Dem party to destroy them from within.

 

[BluesLegend]

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

It is a sucker's bet. You can pay a little now, put in a Roth, and not pay anything on the gains. Or you can pay nothing now and pay a lot later, when you have to pay taxes on the gains.

I thought government tried to curb use of the Roth? But agree with you. Pelosi freaked out on the House floor a while back, she wanted to seize ALL the deferred income tax revenue in 401k's and IRA's immediately. They hate that all that money is sitting there beyond their reach.

 

[rightwinger]

Why not just buy lottery tickets? That's all you get with 401K's. What will the pot be when one retires? Round and round it goes, where it lands nobody knows.

Social Security is just fine, despite all the spin you get from idiots who want to 'manage' your 401K's for you, and loot them.

No one forces you to contribute to a 401k. That alone makes it orders of magnitude better than SS, which is a certifiable Ponzi Scheme. There's norhing "fine" about it. It's bankrupt.

lol it isn't 'bankrupt'; that's a load of rubbish. 401K's are trash bets,; so what if they're 'voluntary'? Most workers can't afford to put anything into them any more. guess how many people start drawing money out of them early? lol lol lol

Of course it's bankrupt. There isn't a dime of real money in the trust fund. 401Ks are "trash brets?" wrong. Virtually everyone comes out ahead when they put their money in a 401K. It's not gambling. Whether you have money to put in them or take it out early doesn't alter the fact that you still end up on the plus side financially.

401k is a good supplement to Social Security

No SS is a supplement to your own retirement savings

and you'd be better off with a Roth IRA

You are better off having a diversified retirement

Annuity, savings, home ownership

 

[rightwinger]

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

It is a sucker's bet. You can pay a little now, put in a Roth, and not pay anything on the gains. Or you can pay nothing now and pay a lot later, when you have to pay taxes on the gains.

I thought government tried to curb use of the Roth? But agree with you. Pelosi freaked out on the House floor a while back, she wanted to seize ALL the deferred income tax revenue in 401k's and IRA's immediately. They hate that all that money is sitting there beyond their reach.

No she didn’t

 

[Winston]

How are 401K's a "scam?" One thing is certain: they are a much better deal than Social Security. Now there's a genuine scam.

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

That is just ignorant as hell. The capital gains tax rate is 15%, anyone making over $38,700 is going to pay more.

Oh God the irony. A married couple who withdraw $60,000 from their 401k will owe 6% federal income tax. That's with the standard deduction. Do you know which is lower 6% or 15%?

The standard deduction also applies to capital gains dipshit. So, in your case they would pay ZERO. Which is less zero or six percent.

Dumbass

 

[Brain357]

Only 13% of business' tax cuts are going to workers, survey says

Tax cut scoreboard: Workers $6 billion; Shareholders $171 billion

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

ARC: Athens County back to 'distressed' status

This is Appalachia, the center of the Republican Party. The area that has the 10 poorest counties in the United States. Those counties being more than 98% white.

Why not pass some of those tax cuts along as wage increases for whites living in the Appalachia area?

So what?

Business owners have no obligation to give their tax savings to employees

Then the economy won’t grow.

So what

Business owners have no obligation to grow the economy

But even if business owners didn't give away their money to employees the economy can still grow. Maybe the buy new equipment and expand their businesses and hire more people. May be the business owners will buy a new house or a new car or invest more

all those things still grow the economy

Paying people more than their job is worth to the marketplace isn't always the best choice

If it doesn’t grow we will continue to go deeply in debt: The tax break is dependent on growth.

 

[BluesLegend]

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

It's not just the fact that the gains are taxed as regular income it's the minimum required withdrawals that guarantee that retirees get every possible tax dollar squeezed out of them before they croak

And you have no idea what the taxes will be when you retire do you?

The theory of this whole scheme is you put money into an IRA or 401k tax deferred. Your investments grow using both your money and the government's money e.g. the deferred income taxes. Its assumed that when you retire and have to pay income tax on these savings your tax rate will be lower than when you were working. So I get to make money on my money, the governments money, my retirement savings grow faster, and when I retire I'll pay a lower tax rate vs paying those taxes when I was making more money working full time. Not true in 100% of cases but true for the vast majority of retirees.

It is a sucker's bet. You can pay a little now, put in a Roth, and not pay anything on the gains. Or you can pay nothing now and pay a lot later, when you have to pay taxes on the gains.

I thought government tried to curb use of the Roth? But agree with you. Pelosi freaked out on the House floor a while back, she wanted to seize ALL the deferred income tax revenue in 401k's and IRA's immediately. They hate that all that money is sitting there beyond their reach.

No she didn’t

Lib please Democrats want to seize all the money in 401k's and force people into a government run retirement system like social security. The WSJ reported on this. Here's one of their stupid schemes, end the tax breaks for 401(k)s and instead give all workers an annual $600 inflation-adjusted tax credit for retirement and force them to invest 5% of their pay into a government-run retirement account managed by the Social Security Administration. Holy crap that's dumb. They called the 401(k) "a failed experiment."

 

[Flash]

That is 13% more than they got under that asshole Obama, isn't it?

 

[Brain357]

That is 13% more than they got under that asshole Obama, isn't it?

Deficits were decreasing under obama.

 

[BluesLegend]

Well they are kind of a scam

In any other investment portfolio the gains would be taxed at capital gains rates where in a 401 the gains are taxed as regular income and the government tells you how much you have to take out every year or else they hit you with a huge penalty. The goal is to squeeze every tax dollar they can out of retirees before they croak

The gains aren't taxed in a 401K. I don't know where you get that information. You never pay taxes on it unless you cash it out.

He's asking why 401k gains are not taxed at the lower capital gains rate vs federal/state income tax rate. The capital gains rate would be higher for most people this poster shouldn't look a gift horse in the mouth.

That is just ignorant as hell. The capital gains tax rate is 15%, anyone making over $38,700 is going to pay more.

Oh God the irony. A married couple who withdraw $60,000 from their 401k will owe 6% federal income tax. That's with the standard deduction. Do you know which is lower 6% or 15%?

The standard deduction also applies to capital gains dipshit. So, in your case they would pay ZERO. Which is less zero or six percent.

Dumbass

No it doesn't damn you are stupid. Short term capital gains would be 12%, long term capital gains would be 0% but only up to about $70k anything over that and you have to pay tax on the gain. Neither has anything to do with the federal income tax standard deduction. If you live in liberal California well your screwed go look up their whopping 13% capital gain tax that's on top of the federal tax.

 

[Toddsterpatriot]

Oh my the far left CNN is making claims and backing up the "crumbs" comments from Pelosi..

Go figure that a far left drone would believe a far left religious dogma site.

So will you far left drones pay more in taxes to protest the tax cuts?

You didn't bother looking very hard, did you dum dum?

13% of tax cuts going to workers wages

Too much freedom, eh comrade?