Reply to Are Republicans thinking about killing tax breaks for 401k savings to pay for tax cuts?

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[quote=Anonymous][quote=Anonymous]Good god, if this happens:

https://www.fa-mag.com/news/annuities-industry-worries-retirement-tax-deferrals-are-on-chopping-block-81694.html

So, in order to pay for these massive tax cuts for billionaires, there is now talk on the Hill of killing tax deferred breaks for the middle class that are often used to save in a 401k. Utter madness.  Billionaires don't need 401ks, so this would literally be a huge transfer of money from the middle class to the ultra wealthy.  They're going to argue that there will still be tax free growth in your account and you'd get taxed Roth 401k style.  But that is no guarantee at all, because they could just raise taxes on withdrawals in the future, plus Roth 401ks are worse deals for many earners and are much harder to save for since they're a lot more expensive.

How many yachts do these goddamn billionaires need? [/quote]

The middle class’s free ride is over. There is plenty of factory work for you and your kids. Knowyour place or Trump and the Republicans will send the military to knock some sense in to you.[/quote]

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