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Joe Biden Promises To End Traditional 401(k)-Style Retirement Savings Tax Benefits

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+9 more 
posted on Aug, 25 2020 @ 05:38 PM
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How many times have we said it, the Dems are going to mess with and most probably in the end take those 401K's or tax them 50% or more. Already they are talking about screwing with them with one of the proposals being that there would be zero incentive for an employer match. Do you think your employer will match anything if this happens?


My question, why would anyone in their right mind vote for a candidate and party that openly states that they are going to raise taxes, mess with your retirements, and implement regulations that will raise prices on just about everything you buy?

What the hell people.....

www.forbes.com...



The Urban Institute proposal assumed that higher-income workers would continue to save just as usual, even if they are on the losing end of tax changes. But would they continue to save through their employers’ 401(k)? And, likewise, if employers’ contributions no longer offered a tax advantage, would they continue to offer these plans, or to offer employer contributions to them?



Anyone remember Teresa Guricuci during the Obama Administration. Probably not because it wasn't like the MSM was reporting that they were looking at confiscating retirement accounts and replacing it with schemes like Social Security 2 and MyIRA to buy government debt.

Direct interview with her here.


edit on 25-8-2020 by infolurker because: (no reason given)



+10 more 
posted on Aug, 25 2020 @ 05:41 PM
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a reply to: infolurker

I've worked hard to build my 401K so I don't HAVE TO RELY ON GOVENMENT!



posted on Aug, 25 2020 @ 05:41 PM
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a reply to: infolurker

With things like this one has to ask what happens when the well runs dry? Move on to the next cash cow until that runs dry? At some point the entire system is going to go belly up.


+4 more 
posted on Aug, 25 2020 @ 05:42 PM
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Dems can't wait to dip their beak into our 401Ks.



posted on Aug, 25 2020 @ 05:47 PM
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Typical. Dems have always wanted you to just fork over 95% of your income to a Dem run government so they can disperse it as they deem appropriate. Wealth distribution according to what they think you need is their wet dream. Remember, you didn't build that.



posted on Aug, 25 2020 @ 05:49 PM
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That a bad campaign strategy



posted on Aug, 25 2020 @ 05:50 PM
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a reply to: DBCowboy

Amen to that , I just got it back to where it was before the markets crashed . Already talking to my money manager on what to do if Biden wins .



posted on Aug, 25 2020 @ 05:50 PM
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Laughs in TFSA.



posted on Aug, 25 2020 @ 05:51 PM
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a reply to: infolurker


Joe Biden Promises NOTHING . He Can't Remember them.........



posted on Aug, 25 2020 @ 05:53 PM
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a reply to: billxam




At some point the entire system is going to go belly up.


It already has.
NONE of your current presidents have ever cared about any of you...they get "voted" in and get rich when they leave office.
It has been belly up for so much longer than you think.




Anyone remember Teresa Guricuci during the Obama Administration.


NO, I don't, I don't like to read idiocy about idiots.

I am kind of amazed there has been no revolution in America, but am kind of not surprised because you people love salivating over fox news and cnn and political idiots and pundits telling you what to think and how it should be.
Basically, you are like the North Koreans....brainwashed.

Vote for Biden!!! (smell my sarcasm)


edit on 25-8-2020 by DrumsRfun because: (no reason given)



posted on Aug, 25 2020 @ 05:53 PM
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Back in February, Joe Biden said the first thing he's going to do if elected president, is to raise everyone's taxes.

Only the conservative media reported this.

It will become very clear during the debates how dangerous and harmful Biden's agenda is for all Americans.

Everything will be laid bare for all to see.



posted on Aug, 25 2020 @ 05:57 PM
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originally posted by: DBCowboy
a reply to: infolurker

I've worked hard to build my 401K so I don't HAVE TO RELY ON GOVENMENT!


You didn't build that.....





posted on Aug, 25 2020 @ 06:03 PM
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originally posted by: Aallanon
That a bad campaign strategy


Maybe the media will ask him about it during the debates.......bwhahahaha..

Who am I kidding...



posted on Aug, 25 2020 @ 06:04 PM
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originally posted by: queenofswords
Typical. Dems have always wanted you to just fork over 95% of your income to a Dem run government so they can disperse it as they deem appropriate. Wealth distribution according to what they think you need is their wet dream. Remember, you didn't build that.


Yes, they want YOU the working guy to fork over all the money.


edit on 25-8-2020 by infolurker because: (no reason given)



posted on Aug, 25 2020 @ 06:04 PM
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originally posted by: queenofswords
Typical. Dems have always wanted you to just fork over 95% of your income to a Dem run government so they can disperse it as they deem appropriate. Wealth distribution according to what they think you need is their wet dream. Remember, you didn't build that.


Yes, they want YOU the working guy to fork over all the money. Do you see a "Progressive Capital Gains Tax" that goes up to 37% or whatever the higher income tax bracket are? Nope, why is that? Because the really rich people do not pay income tax. They make their money through capital gains. The Dems rob from the workers to give freebies to the poor and leave the truly rich who donate to them alone.
edit on 25-8-2020 by infolurker because: (no reason given)



posted on Aug, 25 2020 @ 06:36 PM
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originally posted by: carewemust
Back in February, Joe Biden said the first thing he's going to do if elected president, is to raise everyone's taxes.


He's said he will eliminate Trump's tax cuts - more than once. Maybe it's the only thing he can manage to remember.








posted on Aug, 25 2020 @ 06:40 PM
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More reasons never to trust Democrats for anything 😎



posted on Aug, 25 2020 @ 06:53 PM
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This is all a long term plan designed solely to shift the Democratic Party to their remaining base.
The Progressive Liberals .
Why work , when the government will provide for free ?
Would give more time to work on the important things in life.
Sex , Drugs , and Rock and Roll .
The Progressive Liberal mindset .

(I know. I was there once . For a time.)
Goth
edit on 8/25/20 by Gothmog because: (no reason given)



posted on Aug, 25 2020 @ 07:14 PM
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originally posted by: JinMI

originally posted by: DBCowboy
a reply to: infolurker

I've worked hard to build my 401K so I don't HAVE TO RELY ON GOVENMENT!


You didn't build that.....




And I would suggest that they have sexual intercoursse with maternal relatives.




posted on Aug, 25 2020 @ 07:18 PM
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Did anyone actually read the forbes article?

What are your thoughts on the credits they want to switch to?




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