There’s talk of capping 401(k) contributions at $2,400 per year

Market Watch ^ | October 20, 2017 | Anne Tergesen and Richard Rubin

[Mariner]

You don’t have a clue what you are talking about.

You sound like a mean-spirited Democrat, taking joy at somebody else paying more tax.

That’s some sick sh!t, I don’t care who you are.

For instance, I’m pretty sure you’re not aware that the 3rd and 4th highest states where people itemize, and benefit from the SALT deduction are TX and SC. There they deduct their property, excise and SALES taxes.

Are you joyous at the fact their taxes are going up too?

Probably. Because at heart you’re a Social Justice Warrior.

[moovova]

I couldn't hear you...over my scream. 😲

That'll be a quick way for Republicans to get voted out. I compare this to the NFL taking a knee and running off their money-toting fans.

[KC Burke]

I am soooo sure that Richard Rubin knows the inner workings of the Republican Congress and the Trump administration on Tax proposals.

What a pompous little twit with such strange grooming habits.

[RooRoobird20]

I have maxxed out my 401k every year since the inception of 401k’s, and my employer has always matched with six percent. I am close to retirement and my 401k passed the million dollar mark a year ago. I expect to be at 1.2 or 1.3 million when I retire.—Thank you, President Trump, for your “Trump Effect” on the stock market!!!!

It would be an OUTRAGE and a crime for Congress to take away this excellent Republican-created tool for building wealth and avoiding poverty in retirement. Both parties had better tread very carefully here.

[capydick]

Republicans are looking for ways to generate revenue to support broad reductions in individual tax rates.

Because the consideration of reducing government and cutting wasteful programs is not on the table.

[RooRoobird20]

Additionally: most private sector employers no longer offer traditional pensions, the only option for younger employees is an enhanced 401k.

There will be violence in the streets if Congress tries to take away, strip down, or steal from our 401ks.

[sparklite2]

Pay your own damned taxes. If you don’t like them, lower them. No sympathy here.

[Mariner]

I pay my taxes...AND yours.

Freeloader.

[itsahoot]

That would be pretty stupid.

Something the Republicans are famous for.

[RooRoobird20]

I believe you can put in $24 or $25k per year if you’re over 50 years old. The rest is employer match.

[Chauncey Gardiner]

SS should be a private Roth IRA account controlled by the individual. Similar to Chile. Shame a nation like that can get it right and we can’t.

[snoringbear]

“And sure, it might get taxed heavlily on the back end, but I don’t mind paying tax on free money when the alternative is to not get the money at all.”

Well, the idea about deferred compensation is that most people are at a lower tax rate once they’ve retire. So, most people are taxed less heavily at that point in life.

[sparklite2]

Stop whining, for god’s sake. Someone has to pay for your all-Democrat state government, and it won’t be me.

[kjam22]

I have maxxed out my 401k every year since the inception of 401k’s, and my employer has always matched with six percent. I am close to retirement and my 401k passed the million dollar mark a year ago. I expect to be at 1.2 or 1.3 million when I retire.—Thank you, President Trump, for your “Trump Effect” on the stock market!!!! It would be an OUTRAGE and a crime for Congress to take away this excellent Republican-created tool for building wealth and avoiding poverty in retirement. Both parties had better tread very carefully here.

What the government should do is eliminate your tax burden on those savings. They should encourage you to spend those funds on "stuff" that you may want etc. Instead of encouraging you to keep it all locked up to avoid the tax, while half the time people leave it to their kids, who keep it locked up avoiding the tax so they can leave it to their kids and avoid the tax.

You made that money, you invested wisely. You should be able to spend it and enjoy it without giving the government all of it.... and it would be better for the economy if people spent these funds.

[morphing libertarian]

better to pay tax on the seed than the harvest.

[Mariner]

It’s clear you don’t belong here.

You are not a conservative. You are a Social Justice Warrior flinging false accusation.

Oh, and stupidly ignorant of fact too...something most Freepers would be embarrassed to be exposed as.

And therein is the proof you don’t belong.

If you were even remotely aware of the facts you wouldn’t look as commie as you do now.

[Buckeye McFrog]

So people will save even LESS and expect the government to do EVEN MORE for them when they can’t work any longer. Brilliant! /s

[sjm_888]

Crazy talk.

[sparklite2]

Pay your own damned taxes, freeloader. The rest of us pay ours. I’ve never seen so much whining from one Freeper in my life.

[oh8eleven]

I believe you can put in $24 or $25k per year if you’re over 50 years old.
Okay, I had to look it up since I stopped contributing 10 years ago ...

"For the 2017 tax year, 401(k) participants can choose to have up to $18,000. of their compensation placed into their account,
with an additional $6,000 catch-up contribution allowed for participants 50 and older. These limits haven't changed for the past two years."

Quite a change in 10 years ($15.5K / $5K).