[darkwing104]

They are going to steal it and add a 5% tax on the top as an insult...They'll probably deduct the 401K repayments from your regular Social Security payment after you retire.

[dynachrome]

“probably deduct the 401K repayments from your regular Social Security payment after you retire.”

Hey, stop giving ‘em ideas!

;)

[muawiyah]

Actually, that's already done. Any Social Security benefit you receive may well be subject to income tax depending on how much in the way of other retirement income you receive, and it could well be your 401(k) withdrawals that kick your Social Security into the bracket requiring such taxation.

I've asked my Congrescritters about where tax payments on SS are credited ~ back to SS or to the General Revenues bt they weren't able to find out.

So this trick seems to serve two purposes ~ tax old people, and take their Social Security benefit and cross subsidize other government expenditures.