401k cap being considered?

[Nolimitz]

What are these morons thinking? from $18k to $2.4k
Republicans Consider Sharp Cut in 401(k) Contribution Limits

 

[IVE GOTTA PACKAGE 4U]

Trump says there will be no change to 401(k) plans

 

[Nolimitz]

Sure he does, until all his buddies on the Hill cant pay for proposed tax cuts

 

[Jones]

It's good that Trump is saying that, but he's not writing the tax bill. And the plain fact is that he's so desperate for a win on this that he will sign anything that passes both houses and gets to his desk. The bottom line is that they have to pay for all these tax cuts that they are promising to rich people and big corporations and the money has to come from somewhere.

 

[bottomups]

Same old republican crap. Screw the middle class so the wealthy can get their tax break.

 

[newfie]

Same old republican crap. Screw the middle class so the wealthy can get their tax break.

Haha republicans gave the middle class the 401k. kind of kills that argument.

 

[DriveInDriveOut]

Haha republicans gave the middle class the 401k.

Fake news.

 

[TearsInRain]

it would be political suicide to neuter the 401k now

all those "catch up" high contributors, mostly AARP types, are probably banging down their lobbyist doors right now to threaten the career of any republican who pushes a lower contribution limit

 

[UpstateNYUPSer(Ret)]

it would be political suicide to neuter the 401k now

all those "catch up" high contributors, mostly AARP types, are probably banging down their lobbyist doors right now to threaten the career of any republican who pushes a lower contribution limit

You are confusing the issue-----they are not going to change the limits, just the amount that you are able to write off on your taxes.

 

[DriveInDriveOut]

You are confusing the issue-----they are not going to change the limits, just the amount that you are able to write off on your taxes.

Only 10 percent use roth. People do it for the tax break.

 

[brownmonster]

Haha republicans gave the middle class the 401k. kind of kills that argument.

Seems like it was voted in in 1978. Democrats controlled both houses.

 

[TearsInRain]

You are confusing the issue-----they are not going to change the limits, just the amount that you are able to write off on your taxes.

essentially the same thing, why the would anyone use a 401k without the tax write off?

 

[It will be fine]

essentially the same thing, why the would anyone use a 401k without the tax write off?

Employer matched contributions

 

[IVE GOTTA PACKAGE 4U]

essentially the same thing, why the would anyone use a 401k without the tax write off?

You don't get a write off for the ROTH.

 

[oldngray]

You don't get a write off for the ROTH.

Which is the point of the Roth. You pay the taxes up front and then its growth will be tax free.

 

[Brownslave688]

it would be political suicide to neuter the 401k now

all those "catch up" high contributors, mostly AARP types, are probably banging down their lobbyist doors right now to threaten the career of any republican who pushes a lower contribution limit

And I'll go out on a limb and say a large percentage of people that are taking full advantage of the 18k is republican leaning at least.

 

[Brownslave688]

Only 10 percent use roth. People do it for the tax break.

Yes I'm a 10%er

 

[Brownslave688]

Which is the point of the Roth. You pay the taxes up front and then its growth will be tax free.

The big appeal of the Roth to me is you don't have to play a guessing game with future taxes.

 

[IVE GOTTA PACKAGE 4U]

Which is the point of the Roth. You pay the taxes up front and then its growth will be tax free.

I did more ROTH when I had the kids to write off. Now I do more pre-tax .

 

[oldngray]

Yes I'm a 10%er

People with Roth's are looking at the long term. It takes a while for its benefits to kick in but in you start one early it is easily worth it.