Not hearing a whole lot about this. Not asking so much about the value or stock market projections. I’m asking about the tax breaks, incentives, employer matches, basically the whole reason for being. Is the gov gonna move the goal post? Thoughts? Thanks, JD.
Future of 401k
- Thread starter Jack Daniel
- Start date
If Biden wins, I truly believe you can count on efforts to take some. If Trump wins, status quo.
Yes, you can find "bidens" plan for 401k "restructuring".
If you do not like the source there are plenty more available.
www.cnbc.com
If you do not like the source there are plenty more available.
Biden calls for an overhaul of 401(k) tax breaks. What it means for you
Democratic presidential contender Joe Biden is calling to "equalize" the tax benefits savers receive for socking money away in a 401(k) plan. Here's how that might look for you.
It's been the Dems dream to come steal your 401k so they can redistribute it as they see fit.
When Kamala is president, they are going to aim big big.
When Kamala is president, they are going to aim big big.
Their plan:
Free Healthcare
Free Schooling
Buying back Millions of guns....
All that money will need to come from somewhere
Most Biden voters have:
No job
Which means No 401k
Which means they don’t care about 401K
But they still get part of yours......
Free Healthcare
Free Schooling
Buying back Millions of guns....
All that money will need to come from somewhere
Most Biden voters have:
No job
Which means No 401k
Which means they don’t care about 401K
But they still get part of yours......
Are there enough people with 401’s that it would be politically suicidal or do the takers outnumber the makers. Might actually be a winner politically!! I sometimes wonder what the dollar will be worth in 20 years anyway. Will it be like “congratulations on retiring, here’s a million bucks, go buy a used boat”...
Very well could be worth that.....
But what would I know
I lost all my boats in a shooting accident
There were mentions years back about government trying to absorb 401k funds. I think for them to get away with it, they need to wait for the economy to get so bad people are begging them to do a 401k bailout. They will offer some kind of bond replacement for 401k to make it seem like you get out ahead in the end.
But they may also just change the rules slightly every so often until it's all gone.
But they may also just change the rules slightly every so often until it's all gone.
The total value of 401(k) accounts in the US is about $3.8 trillion. In normal times, that's roughly 16 months of federal spending. Right now, it's less than four months. The government doesn't need our retirement accounts; it owns a printing press.
The financial system benefits greatly from this source of liquidity, and the banks are the ones that got Biden nominated over Bernie and Liz (they also approved of Harris, or else she wouldn't have gotten the VP nomination). So as long as Wall Street benefits from our retirement accounts, .gov won't be stealing them... well, not directly. They will get taxed into oblivion upon withdrawal, or inflated away to nothing.
Yep.I’ve learn 2 things about money First is it isn’t what you make, it’s what you keep that counts. Second, the value of money is tied to the economic confidence of the market.
So is there a better option? What are they not gonna steal/tax? Real estate? Invest in a business, focus on cash flow knowing you can never sell it because of taxes?
If you look at bidens plan, it squarely targets middle class reducing the benefit from pretax deductions that lower your effective tax rate.
Opposite is lower earners who will get more in return than the benefit of deductions to the overall rate.
So transfer of wealth, basically. Moving money from some, to freely give to others.
401k was invented by Wall Street. It was the answer to the defined benefit pension plans that were not working out because folks were not working at GM or IBM for 30 years anymore. Globalism fallout.
So they invented the defined contribution plan. The stock market went from 800 to 28000 because of this. More buyers than sellers. It made the street filthy wealthy. Think about it.
So they invented the defined contribution plan. The stock market went from 800 to 28000 because of this. More buyers than sellers. It made the street filthy wealthy. Think about it.
Hey, I also wouldn't want to be publicly sharing any investment opportunities with the local street pharmaceutical distribution network.
The underlying issue is more subtle. And the goal is to crush the middle class. Why? The middle class comprises a significant portion of what is referred to as the silent majority.
So, how do you sway them? Systematically attack their wealth while at the same time promising more free shit. As wealth is siphoned from them, natural gravitation to free shit becomes stronger thus aligning to the overall encompassing goal of near complete dependence.
So, how do you sway them? Systematically attack their wealth while at the same time promising more free shit. As wealth is siphoned from them, natural gravitation to free shit becomes stronger thus aligning to the overall encompassing goal of near complete dependence.
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Show me a Socialist Society where people get to keep what they earned. Those who can pay will have to pay
The middle class is a dying breed, it is being hunted to extinction world wide as the Elites use the rabble to destroy the middle class so the elites own everything.
For a time a middle class was very useful as a buffer between the elites and the poors, but thanks to technology and an ever more militarized police "force" the elites no longer need the buffer and would prefer to have it all for themselves and no share any scraps with the middle class.
So they will use the "free stuff army" to give them the political muscle they need, in exchange for a little bit of free stuff for a short time.
For a time a middle class was very useful as a buffer between the elites and the poors, but thanks to technology and an ever more militarized police "force" the elites no longer need the buffer and would prefer to have it all for themselves and no share any scraps with the middle class.
So they will use the "free stuff army" to give them the political muscle they need, in exchange for a little bit of free stuff for a short time.
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