Skip to comments.
Millions of high-earning Americans to lose popular 401(K) tax deduction - here’s what it means for YOU
UK Daily Mail ^
| 07/17/2023
| Helena Kelly
Posted on 07/17/2023 12:51:20 PM PDT by DFG
click here to read article
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-42 next last
1
posted on
07/17/2023 12:51:20 PM PDT
by
DFG
To: DFG
The main difference between a Roth account and a 401(K) pot is that the former is taxed upfront - but can be withdrawn for free in retirement. The other main difference is that while the Roth is taxed up front - it can be taxed on the back end if Congress decides to do that.
Stroke of the pen, law of the land, and all that.
2
posted on
07/17/2023 12:54:20 PM PDT
by
kiryandil
(China Joe and Paycheck Hunter - the Chink in America's defenses)
To: DFG
once he cracks the door it won’t be long before it opens fully and 401k will become a major tax for the progressives to spend.
3
posted on
07/17/2023 12:58:44 PM PDT
by
elpadre
To: DFG
4
posted on
07/17/2023 1:00:43 PM PDT
by
sauropod
(Sun Tzu: “The supreme art of war is to subdue the enemy without fighting”)
To: sauropod
Why doesn’t our Communist Medea tell us things like this???
5
posted on
07/17/2023 1:02:58 PM PDT
by
CMailBag
(I)
To: DFG
Roth is generally the better option for younger workers, traditional for those closer to retirement.
6
posted on
07/17/2023 1:03:17 PM PDT
by
jdege
To: elpadre
Prog Plan: “If you have enough money to fund a 401K, you are a wealthy, privileged white person and that money you would have invested should be confiscated to fund reparations payments to the more deserving, underserved, oppressed classes.”
7
posted on
07/17/2023 1:04:58 PM PDT
by
ProtectOurFreedom
(I don’t like to think before I say something...I want to be just as surprised as everyone else.)
To: kiryandil
You forget the “pretty cool!” part. BJ Bill would be upset with you. ;-(
8
posted on
07/17/2023 1:06:45 PM PDT
by
paulcissa
(Politicians want you unarmed so they can control you.)
To: paulcissa
Rapin’ Bill and The Forehead.
9
posted on
07/17/2023 1:11:09 PM PDT
by
kiryandil
(China Joe and Paycheck Hunter - the Chink in America's defenses)
To: DFG
But Roth IRA has earning limits, making some ineligible to be able to contribute to such an account.
10
posted on
07/17/2023 1:12:16 PM PDT
by
fuzzylogic
(welfare state = sharing of poor moral choices among everybody)
To: DFG
Biden also screwed with leaving your house to your kids... they don’t get the ‘stepped up’ benefit anymore. Biden hates the working and middle classes.
11
posted on
07/17/2023 1:14:37 PM PDT
by
GOPJ
(Budweiser, Maybelline etc pay for ads the LGBQ 'community' hijacks. for their own agenda.)
To: DFG
12
posted on
07/17/2023 1:16:40 PM PDT
by
gathersnomoss
(It's The Clown Show.)
To: ProtectOurFreedom
“..the more deserving, underserved, oppressed classes...”
Hey, that’s me, a very old geezer of Scotch-Irish heritage (like my scotch straight up) whose IRA and savings is dwindling.
13
posted on
07/17/2023 1:18:11 PM PDT
by
elpadre
To: GOPJ
Are you sure the “basis step-up” is gone? It’s been proposed many times, but I was not aware they eliminated it.
14
posted on
07/17/2023 1:21:20 PM PDT
by
ProtectOurFreedom
(I don’t like to think before I say something...I want to be just as surprised as everyone else.)
To: CMailBag
Why doesn’t our Communist Medea tell us things like this???
Because they are a bunch of Doosh Bags in the Communist Media!!!
To: CMailBag
"Why doesn’t our Communist Medea tell us things like this???"
They do as their marxist mafia commands.
16
posted on
07/17/2023 1:25:33 PM PDT
by
clearcarbon
(Fraudulent elections have consequences.)
To: DFG
This is beyond wicked. Just when people have the money to contribute more they get kneecapped by the devouring tax-and-spend monsters in Washington.
To: kiryandil
The other main difference is that while the Roth is taxed up front - it can be taxed on the back end if Congress decides to do that.What they will do is tax any gains or limit non taxable gains. Count on it!
To: GOPJ
I haven’t heard anything about the 121 exclusion going away. There has been talk of it for years but I have yet to see it seriously considered, much less implemented.
To: DFG
Does the Big Guy get his 10% cut?
20
posted on
07/17/2023 1:33:01 PM PDT
by
OrioleFan
(Republicans believe every day is July 4th, Democrats believe every day is April 15th.for corruptiion)
Navigation: use the links below to view more comments.
first 1-20, 21-40, 41-42 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson