Reply to Should 401ks be phased out?

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Reply to "Should 401ks be phased out? "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ymillions of Americans don’t take advantage of tax-favored retirement savings − or can't. Nearly half of workers have no access to a retirement plan at work, according to one AARP analysis.[/quote]
Ok? We don’t drag everyone else down because someone else’s employer doesn’t offer a 401k. That’s why IRAs were instituted. Or you could pass legislation requiring all employers to provide 401k access, the same as health insurance.[/quote]

Crappy companies many employees can’t afford to contribute or they offer them but no match. Or the scam in high turnover retail give a match but do vesting period which 95 percent of retail store employees never get.

Also the match is worth  more the more you make. A high earner in San Fran or NYC is in 40 percent tax bracket

The low income retail worker in Florida is in zero percent tax bracket.

Why does the high earner get a 40 percent tax saving on their contribution but low income a zero tax saving? [/quote]

You would receive the same federal tax break whether a Florida resident or New York resident.[/quote]

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