Reply to Should 401ks be phased out?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Seems a growing movement. So many people don’t have one and the people who do a huge tax giveaway to rich.

Look at all the New Yorkers retired to Florida who avoided SALT taxes for 40 years on 401k contributions now in Florida.

If we could tax those trillions would solve a lot of problems [/quote]

This is the dumbest and most informed post I’ve seen in quite some time. Most people who work (earned income) can contribute to a 401K  either through their employer or an individual 401K.  [/quote]

Yes, even Fast food and grocery stores and mall type stores do have 401K for full time employees
The tool is there for tax free growth for everyone.  whether you choose to take advantage of it or not is your choice.  But we need to encourage people to save, not take away tax advantaged tools for doing so.  If a retiree doesn't have enough money, then it falls on fed govt and states to provide for them (Medicaid, etc) I'd prefer we give tax breaks to ensure it doesn't happen. [/quote]

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