Here comes the “income inequality” drum beat. Look for someone in the “squad” to purpose additional taxes on these “obscenely wealthy” people who need to be forced to share at the point of a government gun.
It may look like economic inequality; but what it amounts to is priority/decision-making inequality.
China Joe and the Ho have big plans to tax them and change all that!
A million in a 401k isn’t wealthy.
Zero Hedge telling us what we knew to be coming down the pike with Democrats in power.
Time to penalize those who know what deferred gratification means and plan for their future and to give a bit of the takings to the ‘poor’ and keep the rest for spending on favored projects or just plain graft.
Not worry - the Biden presidency will take them over like Hillary wanted to.
Vapor money; if the lefties take control of the government...POOF, gone in a puff of tyrannical good intention faerie smoke.
In our younger years, my wife and I did without many of the luxuries that we saw others in our generation buying so that we could shovel as much into our 401K as possible. Now that we’re millionaires, the people that blew (or still blow) their money on the latest crap want to tell me it’s unfair. Well screw them!
If you add up what a government worker gets in pension payouts, they are millionaires too.
No doubt, Democrats will be looking at OPM (401K) to fund the failing Social Security.
Question: many State government workers pay into PERA instead of Social Security and the payout is very generous. Will the State PERA funds be subject to the same looting if/when it happens to people’s 401K plans? Well, PERA plans will probably be broke, too along with Social Security. So maybe it is moot.
Oooh.
Another salvo in the attempt to confiscate 401ks and IRAs.
There is no such thing as economic equality. If I give ten people $1,000, half of them will spend it all on themselves, 3 will save a little and spend the rest, 1 will spend half and save half, and one will invest/save most of it and maybe spend a little. There is only one way to make people effectively equal . . . impoverish them all.
THAT is what socialism/ Marxism does. . . evil to the core.
Nobody really knows how many people have multiple retirement accounts, but there are a lot more of them than commonly realized. A job change, another job change, and before you know it you have 3 or 4 accounts. Some consolidate, but many just leave them all open.
I recently attained hundredaire status but then I blew it by buying groceries.
Economic equality = lead a more responsible life. Isn’t the government’s business. Feds are unequally overpaid, BTW.
The harder I work, the more privilege I seem to have. (not a millionaire)
Biden etal are keeping track of this folks. 401k’s, 403b’s, IRA’s.
This is due to stock market at all time highs.
260,000 millionaires...
Out of a US population of 328,000,000
.0000008% = income inequality?
BS.
Planted propaganda to begin to soften you up to raid your 401k