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Re: Why do you get taxed on savings?
[Re: Skinny]
#2768637
03/22/19 09:03 PM
03/22/19 09:03 PM
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Joined: Nov 2011
Posts: 21,789
USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,789
USA
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They limit it to $18,500 because they want their tax money. If they didn’t limit it, some folks would put in hundreds of thousands if not millions. They want that cheese now, not in 50 years. Who cares, they paid their tax up front now they are limited to how much they can save. That is really criminal to limit a persons feeling of security. That amount is pretax ie not taxed until withdrawal at retirement. You can save all you want, after they get their cut.
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