Joe Biden Promises To End Traditional 401(k)-Style Retirement Savings Tax Benefits. What’s That Mean?

[Guard Dad]

Joe Biden Promises To End Traditional 401(k)-Style Retirement Savings Tax Benefits. What’s That Mean?

Will employers still sponsor retirement plans if tax deferral is removed? Plus: why retirement credit supporters are comparing apples and oranges.

www.forbes.com

 

[J-man]

Scare tactic.....Wall Street won’t like it at all.

 

[lotstodo]

The Democrats have been salivating over retirement accounts for over a decade. They will try to tax them or end the tax preference. Then in a few years they will start an expanded Social Security program and force you to roll them in or pay a stiff fine...excuse me Justice Kennedy...tax.

 

[Guard Dad]

The Democrats have been salivating over retirement accounts for over a decade. They will try to tax them or end the tax preference. Then in a few years they will start an expanded Social Security program and force you to roll them in or pay a stiff fine...excuse me Justice Kennedy...tax.

Bingo!

 

[cptlo]

The Democrats have been salivating over retirement accounts for over a decade. They will try to tax them or end the tax preference. Then in a few years they will start an expanded Social Security program and force you to roll them in or pay a stiff fine...excuse me Justice Kennedy...tax.

It's gonna be awesome since everyone knows the govt is much better at spending money than the American people are.

 

[The Sound Guy]

I wonder if they will forget that people can take it out and just pay the 10% penalty? If it even looks like this might pass, I'd do that before letting them roll it into their fund.