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Post by BEAC0NJET on Oct 23, 2017 12:32:31 GMT -5
As part of the new tax bill, I'm seeing this tossed around, that the govt would look to cap 401k contributions to $2400 a year, which is a piddly amount.
I get their goal, limit pre-tax retirement savings, and force people into other options that are not pre-tax, and generate more near-term revenues?
But wont this discourage some (and probably the ones who need it the most) from saving as much for retirement? I'd think we'd want to encourage savings, as to need less of a safety net for the elderly?
Plus I don't like the govt telling me what investment vehicles I can or cant use and for how much.
Thoughts?
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Post by BEAC0NJET on Oct 23, 2017 12:44:39 GMT -5
My initial thought... if you have to cap it, compromise at, say $9000. Cuts the current cap in half but still allows for most lower- and middle- income folks to save.
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Post by shakin on Oct 23, 2017 13:17:34 GMT -5
not a fan
i've been maxing plus the max catchup allowed... the company doesn't match but there chatter they will start in 2018
meh what's the use though. the last, biggest well of money the fucking government hasn't gotten their theiving grubby fingers on yet is the 401(k)s.... and trust me, they have their fucking eyes and aims on it. some type of confiscation will happen at some point (either through new taxation or outright expropriation). the fed's non-stop printing of money can't go on forever... fucking debt bubble is galactic -- they're going to get at that last golden goose when the shtf
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Post by 2foolish on Oct 23, 2017 14:17:57 GMT -5
Horrible.. A penny saved is a penny the gov. can't get there hands on..
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Post by DDNYjets on Oct 23, 2017 15:48:06 GMT -5
I dont like this idea. Seems like Trump is against it. Hopefully he fights the RINOs on this. We have a spending problem, not a revenue problem.
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Post by BEAC0NJET on Oct 24, 2017 11:02:10 GMT -5
Exactly. Its a ploy to increase revenue short term to cover spending. Much better to reduce the other side of the ledger and cut spending, and then you wont need additional revenue.
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Post by Frank Reynolds on Oct 24, 2017 11:12:00 GMT -5
Absolutely terrible.
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Post by chadp on Oct 24, 2017 19:02:47 GMT -5
Worst idea ever - except for Browning Nagle..
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Post by quantum on Oct 25, 2017 10:16:36 GMT -5
Worst idea ever - except for Browning Nagle.. worst idea ever: Harvey Weinstein doing actress interviews |
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Post by 2foolish on Oct 25, 2017 10:40:56 GMT -5
WIE:...stokes reality tv...
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