Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

401(k) Plan Revamp Eyed By Senate Finance Committee
ABC (All Barack Channel) ^ | Sept. 14, 2011 | By LYNEKA LITTLE

Posted on 09/14/2011 7:44:56 AM PDT by Red Badger

click here to read article


Navigation: use the links below to view more comments.
first previous 1-2021-29 last
To: Kozak

I’d stay away from the booze and gambling - the government takes a hefty cut from those activities.


21 posted on 09/14/2011 8:21:33 AM PDT by AdSimp
[ Post Reply | Private Reply | To 18 | View Replies]

To: Red Badger

Means testing for SS is likely in the future....so if you scrimped and saved, you’ll probably get scr****.


22 posted on 09/14/2011 8:22:04 AM PDT by Sacajaweau
[ Post Reply | Private Reply | To 17 | View Replies]

To: Red Badger

never gonna happen....


23 posted on 09/14/2011 8:23:57 AM PDT by God luvs America (63.5million pay no federal income tax then vote demoKrat)
[ Post Reply | Private Reply | To 17 | View Replies]

To: cripplecreek

“Grab your money before its gone. Better to take the tax hit than lose it altogether.”

Too late


24 posted on 09/14/2011 8:29:53 AM PDT by EQAndyBuzz (Sarahcuda in 2012. Nothing but Net!!!)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Red Badger

It’s a $450 billion tax on 401Ks over 10 years.

“Help solve the long-term fiscal problem facing the country by raising $450 billion over the next decade in a manner that is consistent with the principles of broad-based tax reform and distributes the fiscal burden in a progressive manner.”

1. The long-term fiscal ‘problem’ facing the country is excessive entitlement spending aka vote buying.

2. Since when is a tax increase “broad-based tax reform”?


25 posted on 09/14/2011 8:30:40 AM PDT by Justa
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger
1. A "flat-rate refundable credit" is financial jargon for theft of your retirement money by the FedGov. They get to decide how much you will have for retirement. They are the Brookings Institute is a bunch of communist bastards.

2. Without high income earners contributing to 401(k)s, the managers of 401(k)s like Fidelity, Vanguard, Schwab, etc. will have to charge the lower wage earners higher fees, further driving lower wage earners into poverty (this is what the Marxist Muslim in the WH wants).

3. Lower income earners without access to a company sponsored 401(k) DO have access to retirement accounts. They are called IRAs and anyone with any kind of savings can open one and receive the tax advantages of a 401(k), but without the employer contribution which would simply be a wage increase if 401(k)s were not available.

Rest assured that whatever comes out of this committee will not be to the advantage of the American people, but will only increase revenues for the almighty FedGov. They want you to love big Brother.

26 posted on 09/14/2011 8:39:40 AM PDT by Dr. Thorne (Fall on your knees before Christ, your only salvation!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger
Fewer than half of the working public currently have access to a workplace-based retirement plan, so the hearing will address ways to encourage more employers to sponsor – and more employees to participate in – 401(k)-type plans, individual retirement accounts and other vehicles, while maintaining and protecting the existing programs and savings that millions of Americans are counting on for retirement,"

How many of those employers don't have 401(k)s because of the nightmarish reporting requirements already in place to make sure that the highly paid employees don't take unfair advantage of the program. Anything the Democratic Senate will just make 401(k) programs vastly more difficult and fewer employers will deal with it.

My company just about gave up on its retirement program for this reason until we found a company specializing in doing the forms for a few hundred dollars separate from the investment company itself.

27 posted on 09/14/2011 9:00:40 AM PDT by KarlInOhio (Due to the earthquake the president has officially implemented Rule 18-1.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger

Be afraid, very afraid.


28 posted on 09/14/2011 10:01:08 AM PDT by CPT Clay (Pick up your weapon and follow me.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ab Alius Domitor
" these turds just keep looking for a way to take it away from us"

Yes they do - very successfully by devaluing the currency on a daily basis.

29 posted on 09/14/2011 10:54:14 AM PDT by I am Richard Brandon
[ Post Reply | Private Reply | To 15 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-29 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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson