Biden is going to destroy 401k

Discussion in 'Politics' started by ids, Oct 16, 2020.

  1. ids

    ids

    Here is an article from a very friendly https://finance.yahoo.com/news/bidens-plan-overhaul-401-k-185735771.html

    Biden has vowed to convert the current deductibility of traditional retirement contributions into matching refundable credits for 401(k)s, IRAs and others.

    The proposal from the former vice president is intended to level the playing the field of tax deferral in traditional retirement accounts, with the intent of boosting saving among low-income earners. But industry experts cautioned that by reducing the benefits that higher earners receive, the Biden campaign may have increased the likelihood of businesses abandoning those retirement benefits altogether.

    "If you take the tax deduction away and reduce the tax benefit, without also addressing the nondiscrimination rules, you've blown up the bargain," Brian Graff, the CEO of the American Retirement Association, told FOX Business.
     
  2. destriero

    destriero

    IB pays shit wages so you're fucked anyway, clown. Stop posting and use that time to make your software usable.
     
    exGOPer likes this.
  3. gaussian

    gaussian

    Imagine that. Joe "Racial Jungle" Biden whose only claims to fame are the 1994 crime bill and opposing integration doesn't understand the complexity of tax deductible benefits.

    Makes sense though. He doesn't need tax deductible benefits because even after paying taxes him and his crackhead son made absolute bank on Burisma.

    Rules for thee but not for me! The rallying cry of a neoliberal loser and his far left running mate.

    inb4 one of the lefties deboonks his son being a crackhead
     
  4. exGOPer

    exGOPer

    What an achievement, a Trumptard complaining about corruption, neoliberals and the far left.

    Learn to cry MAGAt, you will have great four years ahead. Hope you find support on your facebook group with other dimensia boomers.
     
  5. gaussian

    gaussian


    tbh I've began brushing up on my mandarin because there's a non-zero possibility Beijing Biden will just hand the country over to the chicoms. Property in my state is mostly owned by chicoms via foreign investment and REITs. 99% of products we buy are Chinese. May as well start learning our new mother tongue.
     
  6. Nine_Ender

    Nine_Ender

    He's just one of many on here getting desperate as Biden leads by 10 points ( a massive lead by historical measure ). This whole thread smells of desperation. Life will go on regardless of who is in power; it's just that the Democrats might actually want bills to be paid.

    So many bad aspects in the US are a direct result of this insane fear of "the left" that so many hang onto in the US. There are only two parties and they'd vote for one of them no matter how ridiculously bad they govern.
     
    Cuddles and exGOPer like this.
  7. Ricter

    Ricter

    He could destroy 401k on 5th Avenue and still...
     
  8. jem

    jem

    when the polls are set to a reasonable turn out template which samples 4 dems more than Republicans... Biden's lead is inside the margin for error. The polls that give biden a good lead a crooked then sampe 7 to 20 more democrats...

    Biden leads by 2 to 3 at most.

    Gallop found that only one more person identifies as a democrat than republican.

    For the same reason Hillary lost... Biden could lose there is an abundance of votes where Biden does not need them.