Skip to comments.How will ObamaCare affect my 401k?
Posted on 03/28/2010 8:53:50 AM PDT by HDCochran
I know that ObamaCare will impact the profitability and growth of investments in my 401k, but does it affect it even more directly? How are capital gains and dividends from stocks held directly in 401k treated and affected by the new medicare charge? What about from stocks in mutual funds held in 401k?
Will I be TRIPLE taxed?
I read somewhere that the “unions” wanted your 401K. Not exactly sure what that means
Don’t worry about it - the dims will be coming to take the whole damn thing.
Well here is one informed answer. Big labor wants Hussein and Co. to confiscate 401K’s, all for the “greater good”, of course. Your money will be used to fund the Marxist dreams of dear Leader. But don’t worry...you’ll be given T Bills to replace the missing money. Now don’t you feel better?
The Unions want the 401K’s rolled into a Gvernment run plan.
Give us your money Comrad!
The increase in capital gains tax will not impact your 401K, or your IRA, for that matter. All gains in these plans are taxed as earned income upon withdrawal. Personally, I am more concerned about an increase in the tax rate of earned income in the future. I am also more concerned about plans to have the government be in charge of 401K and IRA plans. These people are looking for cash to fund their experiment.
Well, if they go down this road, I’m at the age I can retire and just roll my entire 401k into an IRA. No way is my money going into some government run plan.
Ha. Good luck. Obama’s plan is to take the money from people who earned it, and share it with people who didn’t.
I don't believe there can be any informed answers. If all the current rules remain the same and Obocare is not repealed, then your 401k will be likely effected in three ways. It's value will not increase very much because of the long term economic trends. Your return will be further diminished because of the inevitable inflation that will come. And finally you will inevitably be taxed on your payouts at a higher rate than they otherwise would have been.
All that assumes no change to the 401k rules. However, I would not be surprised if the rules are changed. I think the government will be forced to apply some sort of additional capital gains assessment of these funds because they represent an irresistible source of revenue. I really believe we are all going to be screwed for being responsible and productive.
By the time these communists are done we’ll be happy to turn our money over to them...if they just don’t put us in prison.
There is about $12 trillion in personal savaings, IRAs, 401K, etc. Our debt is about $12 trillion but unfunded mandates like SS, Medicare, Medicaid are much more plus pension plans for govt workers.
The Dems want that money. They have already said they want it. It is social justice for illegals (who McCain and Graham want to legalize), ACORN, SEIU and their voters.
Thank MCCain-Feingold for putting the Dems in power 2006/2008 and Obama 2008. Bush should have vetoed it.
Still we have people here sticking up for McCain. McCain has been the Dems trojan horse.
This is absolutely correct. SEIU wants your 401(k):
No, as Congressman Weiner kept telling Bill O’Reilly last week, “We are not going to criminalize anything” - they will just fine us to death.
Attempt to seize my property and I will stop you by ANY MEANS NECESSARY.
Obama is gonna start enforcing those “Do not remove under penalty of Law” tags on mattresses- just so people don’t try to hide money there.
Beware the greater threat - the federal government changing the law to roll all 401ks and Pensions into a national retirement plan. They are discussing this - just search FR for articles.
If they move in this direction, I will pay the penalties and withdraw my money to maintain control.