republican tax increase on the middle class - trump agreable to limit 401k contributions

[HerdBuckeye]

I'm for any tax break possible for anybody possible. That said, if they lower the limit to, say, $10,000, very few people would be affected. Actually, the more affluent would be affected by a reduction in the 401k tax break, which I would think a good liberal would be in favor of.

I don’t agree necessarily on your assessment of who is saving the most. When I was young single and right out of college I saved the max. No kids no car payment no house payment. Then I think you cycle into a house, a car and then kids and 401k saving dwindle before they begin to ratchet up again. Being I am not a democrat I can’t confirm any thought that a democrat would have on this. All I see from the brief and limited details on his plan it is just another reshuffling of money.

One thing I will tell you if he does do anything with 401ks it is another fine example of his lying as he stated on Twitter Monday that he would not touch 401ks. Am I right or am I right? Come on Trumptard be honest.

 

[big_country90]

I don’t agree necessarily on your assessment of who is saving the most. When I was young single and right out of college I saved the max. No kids no car payment no house payment. Then I think you cycle into a house, a car and then kids and 401k saving dwindle before they begin to ratchet up again. Being I am not a democrat I can’t confirm any thought that a democrat would have on this. All I see from the brief and limited details on his plan it is just another reshuffling of money.

One thing I will tell you if he does do anything with 401ks it is another fine example of his lying as he stated on Twitter Monday that he would not touch 401ks. Am I right or am I right? Come on Trumptard be honest.

Median household income is about $59,000. Do you really think that there is a large percentage of people saving 30% of their income and putting it into a 401k? Not a chance. Most people save 4-6% because that's what their employer matches. For someone to put aside even $10,000 in one year, they would have to make $125,000-$150,000 or so based on statistics. So if this deduction were to be tinkered with, it would mainly raise the taxes of those who you love to raise taxes on anyway.

TLDR; This raises taxes on the "rich", which you're all about.