What if the government abolished your 401(k)?

[JustAGuy1]

The federal government should stop allowing pre-tax contributions to retirement savings, abolishing the 401(k) and Individual Retirement Account, two economists from opposing ideological camps argued in a research brief in January.

Allowing people to shelter their retirement money from taxes is a policy that largely favors the well-heeled, they said. Congress could use that money, nearly $200 billion a year in lost tax dollars, to shore up the underfunded Social Security program.

"We do not think that this subsidy, which you can only rationalize if it increases saving ... we don't think it does increase saving very much," said Alicia Munnell, an assistant treasury secretary under President Clinton. She co-wrote the brief with Andrew Biggs, a senior fellow at the right-leaning American Enterprise Institute.




Good lord, what is wrong with these people?

 

[Anathema]

Taking thst money, even as minimal as it is for be, would be an act of war on the populace. Especially if it were put into Social Security, Medicare, or any other immoral social safety net program.

I AM in favor of getting rid of the pre/post tax issue through a single flat first-generation only income tax with no deductions or exceptions… so long as it’s the ONLY tax that level of Government was allowed to impose.

 

[marvin martian]

The federal government should stop allowing pre-tax contributions to retirement savings, abolishing the 401(k) and Individual Retirement Account, two economists from opposing ideological camps argued in a research brief in January.

Allowing people to shelter their retirement money from taxes is a policy that largely favors the well-heeled, they said. Congress could use that money, nearly $200 billion a year in lost tax dollars, to shore up the underfunded Social Security program.

"We do not think that this subsidy, which you can only rationalize if it increases saving ... we don't think it does increase saving very much," said Alicia Munnell, an assistant treasury secretary under President Clinton. She co-wrote the brief with Andrew Biggs, a senior fellow at the right-leaning American Enterprise Institute.




Good lord, what is wrong with these people?

The DemoKKKrats have been dying to confiscate our retirement savings for decades.

 

[jackflash]

The federal government should stop allowing pre-tax contributions to retirement savings, abolishing the 401(k) and Individual Retirement Account, two economists from opposing ideological camps argued in a research brief in January.

Allowing people to shelter their retirement money from taxes is a policy that largely favors the well-heeled, they said. Congress could use that money, nearly $200 billion a year in lost tax dollars, to shore up the underfunded Social Security program.

"We do not think that this subsidy, which you can only rationalize if it increases saving ... we don't think it does increase saving very much," said Alicia Munnell, an assistant treasury secretary under President Clinton. She co-wrote the brief with Andrew Biggs, a senior fellow at the right-leaning American Enterprise Institute.




Good lord, what is wrong with these people?

U do not need to worry about the 401K's as inflation will take care of them.

 

[leftwinger]

I don't think they mean to "CONFISCATE" your 401K accumulation ("at this time").

They want to disband the programs so you don't have any more Tax defered income savings.

 

[TroglocratsRdumb]

The greedy corrupt kleptomaniac Democrats can't control their urge to steal.
How about stop wasting $$TRILLIONS$$ on climate change boondoggles.
How about stop flooding our country will millions of worthless welfare moochers.