Posted on 03/17/2024 6:30:13 PM PDT by SeekAndFind
Oddly, Roth was also from DE!
History repeating???
“Hitlers Beneficiaries “ - Gotz Ally
“How did Hitler win the allegiance of ordinary Germans? The answer is as shocking as it is persuasive: by engaging in a campaign of theft on an almost unimaginable scale―and by channeling the proceeds into generous social programs―Hitler literally “bought” his people’s consent.
Drawing on secret files and financial records, Aly shows that while Jews and citizens of occupied lands suffered crippling taxation, mass looting, enslavement, and destruction, most Germans enjoyed an improved standard of living. Buoyed by millions of packages soldiers sent from the front, Germans also benefited from the systematic plunder of Jewish possessions. Any qualms were swept away by waves of tax breaks and government handouts.”
There is a pattern with these socialists.
Joe will have a hard time finding mine. The only retirement fund I ever had was as a NY State employee, and since I’ve been retired for 20 years, and lived longer than they thought I should, there isn’t even anything left in that.
“When — not if — Biden steals 2024, he will be instructed by Obama to raid, outright, all 401ks and Roths.”
The Marxists have been salivating at the thought of getting their paws on everyone’s retirement funds for decades. They know they’ll have to orchestrate some “disaster” false flag event in order to justify it, though. But history always repeats itself with these creeps. Count on it. They think of it as ‘their money’, not yours. Could be one reason why they seem to be trying to get us into WWIII.
I believe it. POSObama is just getting warmed up.
Democrats have been slavering over IRAs and 401ks for years. It’s huge pool of money that would fund their schemes (and cronies) if they could grab it. Taking the money and handing back an IOU is how they raided Social Security, so they know it works.
Biden and his propaganda machine continue to promote the abject lie that the way to raise tax revenue is to raise the tax rates.
What INARGUABLY needs to be done is to eliminate our Byzantine tax code re deductions and tax breaks - every letter of it.
Many huge corporations pay little or no taxes because of our perverse tax code.
This would make armies of accountants, lawyers, and political staff unemployed virtually overnight. Not that these are bad people, but their talents are being directed to activities that provide no marginal benefit to society.
Eliminating the tax code would also dramatically reduce political corruption, as there would no longer be an incentive for corporations to persuade legislators to tip the scales in favor of the corporations.
Calibrating and reducing the federal deficit would then be much easier to do as the collective tax burden would be much more easily calculated without the complications brought about by tax deductions currently in the tax code.
In short, have a tax rate, yes, but have ZERO deductions.
Better take your money out of your 401k. Even if he doesn’t do it now the country is going down the hole and your money will follow. Buy real good with it and prepare for hard times.
“and why I never went with a Roth.”
Wow, think you are making a mistake. I have transferred and spent over $100K going thru Roth and paid zero in federal taxes, state taxes bite me in butt.
Some of it hits shareholders but half the country own stocks as well
“I also expect demonization of double dippers”
I receive a teacher’s pension and so my Social Security (earned before I became a teacher) is cut by about 50%, because ‘double dipping’ is frowned upon.
On the other hand, I believe that Barrack Obama gets pension payments from the state of Illinois for his state senate term, a pension from the U.S. for when he was a Senator, and of course his pension for being President of the U.S. for eight years. And I’ll be he also gets a Social Security check from his time as a ‘community organizer’.
It all depends on who’s doing the dippin’.
(I have no problem with military retirees double or triple dipping. The nation owes them.)
if I had to do it all over again, I'd give very little to my 401k and instead save/invest outside of my official retirement acct...least its there for me to do what I want with it.
writer is totally wrong very wrong about roths!!!!!!
He says you NEVER pay taxes on a roth. WRONG1
If you move that roth to another financial institution the 5 year holding period—you have tohold a roth for 5 yrs before its tax free-—you have to hold it in THAT PLACE for another 5 yrs before you can take it out tax free!!
why didnt he do his research. what an idiot
Why do you think they want to confiscate your firearms .
Corporations do not pay any taxes and they should not! All their taxes are passed on to the consumer. WE PAY IT! A tax on a corporation is a tax on the buyer. Profits of the investors is taxed as it should be as this is income.
Actually the fairest tax of all is a national sales tax or a flat tax for all as everybody pays regardless. If it gets to high everyone gets mad and votes the SOBs out of office.
As we all know and have stated over and over ... the corporations pass on the tax to the people who are the ones who ultimately pay it.
People making less than $400K will pay more in taxes if Biden is reelected.
They vote them out, some of them, not all
But it does no good because the taxes don’t leave, they are still on the books
You are incorrect. The five-year holding period is only from the year of first contribution.
I just paid 1000 on taking my roth out last year.
I had the Roth in my 401 k for ten years. I moved to a Schwab account in 2021 and the clock for 5 yr holding period started over in 2o21. I took it out last year so it was considered under 5 yr holding
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