Reply to Proposal to cap 401k and other tax accounts once you reach a certain amount, what do you think?

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Reply to "Proposal to cap 401k and other tax accounts once you reach a certain amount, what do you think?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yikes? This is a proposal designed to keep people like Mitt Romney from avoiding taxes through massively overfunded retirement accounts.

Makes sense to me.[/quote]

This has nothing to do with Mitt Romney. If they want to go after deferred compensation for executives, that's one thing. This is caps on regular 529 plans. I'm a hardcore Dem and I don't support this. What nonsense.

That said, I would support repealing the Roth IRA.[/quote]

Mitt's "I put $10K worth of stock into my 401K" which he then somehow had revalued at $20M or something absurd like that was pretty sleazy though. 
[/quote]

yeah this exactly aimed at Romney and similar tactics-- idea being that you get a tax break for retirement saving, but if you have enough retirement saving to provide a pension of $200k a year, with 100% survivorship benefit, you don't need any more tax breaks.

That said, it's one of those things the policy wonks like that will never go anywhere.[/quote]

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