- April 22, 2024
- Posted by: legaleseblogger
- Category: Related News
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### Government’s Greed: Threat to Retirement Savings
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### Economists’ Proposal: Rethinking Retirement Tax Benefits
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****** just grabbed a
Instead of raising the earnings cap?
She can fuck right off.
This author isn’t in the government and hasn’t been in 30 years. Congress recently passed the Cares Acts which made it easier to make retirement contributions as well as increase contribution sizes among other benefits.
No major brokerage firms, asset managers, or financial reporters have issued any alerts. The AARP hasn’t either. This framing is absurd fear mongering. No one is coming for retirement plans.
Say it with me, SS should not be a regressive tax. Remove the income limit.
What does “greedy government” have to do with any of this? The authors are private citizens. Way to fear monger and rage bait 😂🙄🤡
Fuck her.
Some states already tax 401k contributions so it’s not far fetched for the fed to do it, in my opinion.
The argument in the article is that tax incentives don’t really increase retirement savings, so is there a better option of getting rid of the tax incentives now for a better funded society based fund (social security). It sounds good, but we know SS is the first thing Congress pillages. Naturally as it is now, higher earners are the ones that can utilize the tax incentives to their full extent, and benefit from a larger retirement fund. All of these things can be true…it’s just a question of can the US government actually provide a reliable system without being at the whim of politics. The rose colored glasses on me say “yes that’s the intention of government” but in current times, there isn’t a true interest in governing.
401ks should be triple tax free like HSAs tbh
This is where the “eat the rich” movement leads to. The complainers and activists fail to understand that lots of retired low/middle class people are in this bucket from their 401k and IRA so messing with cap gains or retirement plan treatment is going to meaningfully hurt everyone but the rich.
Go Roth while you can.
GTFOH!
And I am sure congress will be exempt to this.
Bring back pensions. If you’re at a company 5 years you should be entitled to one or elect to transfer 401k cash to the pension. And have every year at the company add to the pension in some way.
Not going to happen. Do you recall what happened when the government considered even taxing 529’s, which really do disproportionately benefit the upper middle class? The backlash made that completely untenable.
You’d be better off lifting the social security cap and probably bringing back pensions. The amount of people barely saving in their tax-advantaged retirement accounts to have cash now is frightening.
God I wish they would just let you opt out of SS. If you feel the need to participate, go for it.
“Economists” is misleading when its actually only 3 economists.
And they are also just analyzing a case….
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Or here’s a crazy idea…get corporations and billionaires to pay their fair share of taxes. Voila! There’s some tax revenue for you.
The whole reason for social security in the first place was that people didn’t save for themselves. Now people are saving for themselves and they want to take that away. If anything the tax benefit to retirement accounts should be increased.
We should of course tax the 401k dividends of the rich to fund social security lol. The government isnt coming for my money
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