$2400 Cap On 401k Contributions

[FLVOL_79]

2400??? Wtf that's insane.

Right?


Don't they realize how many multi millionaires they would lose?

 

[NEVolFan]

The idea of a tax cut sounds great... but as they say, there is no such thing as a free lunch. Likely they will add a big tax on gas at the pumps. Would prefer to see them go after tobacco and alcohol to make up the cash flow needed to support the so called tax reform.

 

[hog88]

The idea of a tax cut sounds great... but as they say, there is no such thing as a free lunch. Likely they will add a big tax on gas at the pumps. Would prefer to see them go after tobacco and alcohol to make up the cash flow needed to support the so called tax reform.

Yeah great, how about just cut spending?

 

[Septic]

Yeah great, how about just cut spending?

Shouldn't be a problem with the party of fiscal responsibility holding all the cards. Right?

FWIW, I genuinely hope they shut my snark up. That said, I fully expect for them to continue adding to the deficit while fleecing the public into believing that huge tax cuts for the wealthiest is the way to advance the middle class.

 

[armchair]

I guess I'm just searching for an angle on why thus was even suggested by the GOP (allegedly). Doesn't seem to be pro-middle class.

the Republican party seeks out ways to stiff most Americans. This is a party that is all about coddling big business at the expense of consumers, workers, the health of Americans and on and on. There is no disputing this. Congress just passed a law preventing class-action lawsuits against financial firms--and they do something like this every chance they get. They go out of their way to protect scam businesses as well--see for-profit "colleges" that have been ripping people off for years. This is a party full of extremists who would get rid of Medicare and Medicaid if they could. They are anti-American, essentially.

 

[Rasputin_Vol]

the Republican party seeks out ways to stiff most Americans. This is a party that is all about coddling big business at the expense of consumers, workers, the health of Americans and on and on. There is no disputing this.

And by the same token, the Democrats destroy the middle class by corrupting our culture and morals (breaking up the traditional family, embracing victimization and unaccountabilty, a disdain for religion, etc).

The middle class gets taken advantage of by both sides.

 

[joevol320]

Which goes back to what I originally asked... is this a way for employers to minimize the amount they have to put in matching funds?

In other words, is this even related to the tax cuts and more of a sneaky way of helping employers reduce the amount they pay in matching?

That is a choice the employer makes. They're not forced to match.

 

[joevol320]

The sad reality is a lot of Americans are probably not putting much more than this in their 401k. The amount that contribute the max is in the single digits. At the end of the day if your tax bill is going down who cares how you got there.

It's not wise to only fund your 401k to the max. You need to save money for emergencies so it wise to put money in a more liquid funder that you can access with no penalty

 

[Biopsyman]

It's not wise to only fund your 401k to the max. You need to save money for emergencies so it wise to put money in a more liquid funder that you can access with no penalty

So true.. The govt says you can contribute gut can tap into it under 59 and Half without penalty

 

[Thunder Good-Oil]

Shouldn't be a problem with the party of fiscal responsibility holding all the cards. Right?

FWIW, I genuinely hope they shut my snark up. That said, I fully expect for them to continue adding to the deficit while fleecing the public into believing that huge tax cuts for the wealthiest is the way to advance the middle class.

Entitlement programs that the Libs are so fond of take a long time to unwind. Decades when the bloated government payrolls transition into bloated pensions.