Skip to comments.Fox: Government considering adding taxes 401Ks
Posted on 04/23/2012 6:14:59 AM PDT by pabianice
Per Stuart Varney, the "Government" is considering ways to tax some or all of your 401K to raise approximately $462M. This would be a new tax on top of whatever taxes you would already owe. Interesting.
With a Republican majority in the House? Not very likely.
It has been in the make for years. Another change being speculated is that IRAs will not be transferrable upon death. We stopped contributing several years ago.
No safe place from the tax man.
462M? They’re pretty accurate when they have to be. Looks like another distraction.
They do that and it’s Civil War II.
Taxing my 401K would turn it into a Roth IRA.
So much for the lie that anyone who makes less than $250,00(or was it $200,000) won’t pay a dime more in tax. I bet union run pension plans will be exempt from any new tax.
They’ll get waivers!
The money grubbing feral hogs in Washington never sleep.
For only $462M? That’s a drop in the bucket...so why bother. Bet it’s more like $462 Billion, perhaps? Either way, they’re going to try and do whatever they can to confiscate more of America’s wealth. Never any mention, though, of cost cutting, correct?
How anyone in their right mind can put their trust in government is almost inconceivable.
That they think they have a right to your money underscores that they think they have a right to your time and efforts. Essentially, they think they own you. Tell me how that interpretation is incorrect.
The sustainability of the US as a nation has been largely predicated on the ability of individuals to jump socioeconomic class based on their own efforts. The resentful among us want this to stop.
Google “Teresa Ghilarducci” and learn why she’s been called The Most Dangerous Woman in America.
The eventual plan is to seize all 401K assets and replace them with a “guaranteed” Federal pension for everyone. One that is “fair”.
They want to raise $462 Million? For what? You can’t even buy a baseball team with that. In the grand scheme of government spending, $462M is an awfully small, awfully specific number. The bailout alone was $700 Billion.
This is a trial balloon. It’ll never get past the House.
Wow! That's like $1.50 for every man, woman and child in the US! That's hugh! I'm series!
Investment killing government thugs...apparently they can’t see the unintended consequences of this nonsense. Or perhaps that’s what they’re counting on?
462 million is what, about an hour’s worth of interest accumulation on the Federal deb?
Not sure on that. The Pubbies are just as money hungry as the Democraps. I stopped contributing to my 401K for some time now. I rather do my own saving than having the government do it for me.
They’re already using the postal workers’ retirement funds as a source of money to support the Congress’s lack of fiscal discipline, endangering the future of the US Postal Service.
This is something that they have been talking about for a while. I didn’t know about making the IRA’s non transferrable upon death though. We have been watching and have considered pulling the money out and paying the taxes on it if they are going to do it anyway.