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10 registered members (twaldrop4, 7mmSTW, Rockstar007, Camden86, slipperyrock, Booner Hunter, quailman, CAL, MC21, 1 invisible),
344
guests, and 0
spiders. |
Key:
Admin,
Global Mod,
Mod
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401k (spin off)
#3015333
01/16/20 10:58 AM
01/16/20 10:58 AM
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Joined: Dec 2002
Posts: 11,308 Kennedy, al
globe
OP
Booner
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OP
Booner
Joined: Dec 2002
Posts: 11,308
Kennedy, al
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How likely is it that our 401k savings gets taxed once the 47%ers get in charge? That would just about be my breaking point where I’d want to hurt somebody.
Everything woke turns to shucks
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Re: 401k (spin off)
[Re: globe]
#3015339
01/16/20 11:04 AM
01/16/20 11:04 AM
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Joined: Nov 2015
Posts: 14,049 Chilton County
MarksOutdoors
Booner
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Booner
Joined: Nov 2015
Posts: 14,049
Chilton County
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I'm pretty certain of it. Anyone who is in a position to have "extra money" that they don't readily have to use will be considered, "the wealthy". They already have it where folks that rent don't have to fund the schools.
"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him." -G. K. Chesterton
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Re: 401k (spin off)
[Re: globe]
#3015363
01/16/20 11:18 AM
01/16/20 11:18 AM
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Joined: Nov 2015
Posts: 21,443 HSV AL
jmudler
Freak of Nature
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Freak of Nature
Joined: Nov 2015
Posts: 21,443
HSV AL
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Democrats - What is mine is mine, what is yours is mine.
Isaiah 5:20 Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.
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Re: 401k (spin off)
[Re: globe]
#3015387
01/16/20 11:41 AM
01/16/20 11:41 AM
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Joined: Oct 2000
Posts: 14,894 Right Behind You
William
Booner
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Booner
Joined: Oct 2000
Posts: 14,894
Right Behind You
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How likely is it that our 401k savings gets taxed once the 47%ers get in charge? That would just about be my breaking point where I’d want to hurt somebody. Gets taxed? I think that'll be the least of our problems. I'm more worried about a straight confiscation a la Cyprus when the next financial crisis comes around. We are currently spending as a country like a college kid with daddy's credit card with no end in sight.
"The misery of being exploited by capitalists is nothing... compared to the misery of not being exploited at all."
Joan Robinson
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Re: 401k (spin off)
[Re: Irishguy]
#3015389
01/16/20 11:43 AM
01/16/20 11:43 AM
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Joined: Nov 2011
Posts: 21,751 USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,751
USA
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Your 401k is going to get taxed. When you take out the money. That's the way it works. Yeah, but I'm talking in addition to that. Like a surcharge, etc. They already have wealth tax in Europe. They take 2% of everything, every year in some countries. I'm talking money that's already been taxed once. Trump has actually supported a one time levy of 14% or something like that.
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Re: 401k (spin off)
[Re: globe]
#3015403
01/16/20 11:55 AM
01/16/20 11:55 AM
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Joined: May 2015
Posts: 6,363 On the X
TickaTicka
12 point
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12 point
Joined: May 2015
Posts: 6,363
On the X
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I'm making plans to remove a bunch from investment accounts prior to this election.
Public Land Owner
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Re: 401k (spin off)
[Re: DryFire]
#3015431
01/16/20 12:31 PM
01/16/20 12:31 PM
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Joined: Nov 2008
Posts: 10,271 Alabama
whack-n-stack
Booner
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Booner
Joined: Nov 2008
Posts: 10,271
Alabama
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They won't tax it. My guess is they will force you to draw down your 401k to a certain amount before you are allowed to receive SS benefits. If social security hasn’t gone kaput by then
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Re: 401k (spin off)
[Re: whack-n-stack]
#3015432
01/16/20 12:34 PM
01/16/20 12:34 PM
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Joined: Nov 2011
Posts: 21,751 USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,751
USA
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They won't tax it. My guess is they will force you to draw down your 401k to a certain amount before you are allowed to receive SS benefits. If social security hasn’t gone kaput by then Social Security will never go kaput. Ever. They'll just limit who gets it. Got money saved? Sorry, you lose. Money giveaway programs do not disappear.
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Re: 401k (spin off)
[Re: DryFire]
#3015442
01/16/20 12:52 PM
01/16/20 12:52 PM
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Joined: Oct 2000
Posts: 14,894 Right Behind You
William
Booner
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Booner
Joined: Oct 2000
Posts: 14,894
Right Behind You
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If you are under the age of 50, I wouldn't factor SS into my retirement planning at all.
"The misery of being exploited by capitalists is nothing... compared to the misery of not being exploited at all."
Joan Robinson
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Re: 401k (spin off)
[Re: William]
#3015451
01/16/20 01:04 PM
01/16/20 01:04 PM
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Joined: Jun 2015
Posts: 13,971 Some Marriott/Auburn
AU7MM08
Booner
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Booner
Joined: Jun 2015
Posts: 13,971
Some Marriott/Auburn
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If you are under the age of 50, I wouldn't factor SS into my retirement planning at all. If I ever see SS, it'll be used to fund a gambling habit that doesn't exist otherwise
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Re: 401k (spin off)
[Re: globe]
#3015455
01/16/20 01:10 PM
01/16/20 01:10 PM
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Joined: Dec 2002
Posts: 11,308 Kennedy, al
globe
OP
Booner
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OP
Booner
Joined: Dec 2002
Posts: 11,308
Kennedy, al
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Yeah, I was talking about some “back door” tax other than when I take it out. I’m afraid you’re correct about SS.... We’ll be considered too rich to draw. It’s a damn shame they’ve made saving money a risky proposition.
Everything woke turns to shucks
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Re: 401k (spin off)
[Re: globe]
#3015484
01/16/20 01:56 PM
01/16/20 01:56 PM
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Joined: Dec 2013
Posts: 22,469 Lickskillet, AL
Irishguy
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 22,469
Lickskillet, AL
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Yeah, I was talking about some “back door” tax other than when I take it out. I’m afraid you’re correct about SS.... We’ll be considered too rich to draw. It’s a damn shame they’ve made saving money a risky proposition.
You don't understand. They don't want anyone to be self sufficient. They want everyone to be dependent on the liberal elite. They are trying as hard as they can to make everyone a surf dependent on government handouts to eat.
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Re: 401k (spin off)
[Re: globe]
#3015503
01/16/20 02:24 PM
01/16/20 02:24 PM
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Joined: Jul 2010
Posts: 9,111 B'ham
Goatkiller
14 point
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14 point
Joined: Jul 2010
Posts: 9,111
B'ham
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They will probably do something like levy a new tax on the investment funds as a deduction of what they actually distribute. Probably bury that down deep in some obscure tax bill they will pass claiming to cut taxes on the middle class, blah, blah. Which won't happen.
That way the hedge fund managers will still get their "fee" 100% on the earnings and performance of the funds they manage.
That way the crooks living in New York holding all our money in their account and voting for Bernie will get richer while we all get poorer.
That would fit right into their plan. You won't even know they are robbing you unless you read the Fund's prospectus.
No government employees were harmed in the making of this mess.
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Re: 401k (spin off)
[Re: globe]
#3015525
01/16/20 02:52 PM
01/16/20 02:52 PM
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Joined: Apr 2017
Posts: 4,597 Elmore county
GKelly
10 point
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10 point
Joined: Apr 2017
Posts: 4,597
Elmore county
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I can already hear the sales pitch "a certain percent of the country is well enough off that they are able to put away hundreds of thousands of dollars for retirement that they will not even spend for another 20, 30 possibly 40 years, while others wonder where their next meal will come from. I dont think its to much to ask for these people to contribute 25% of their savings to benefit society. No one should go hungry in america while others are allowed to stockpile wealth off the backs of the poor."
Last edited by GKelly; 01/16/20 02:55 PM.
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Re: 401k (spin off)
[Re: DryFire]
#3015536
01/16/20 03:06 PM
01/16/20 03:06 PM
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Joined: Oct 2010
Posts: 1,689 Oak Grove, AL
Butchman205
8 point
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8 point
Joined: Oct 2010
Posts: 1,689
Oak Grove, AL
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They won't tax it. My guess is they will force you to draw down your 401k to a certain amount before you are allowed to receive SS benefits. That’s what I’ve heard from my politician circle following friends. Personally I don’t know how they can stand being around those folks too often.
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