Trump Administrations Considering Axing Tax-deferred 401k to Make Up for Other Tax Cuts - Polidicks

[quote] President Donald Trump was elected, in part, because of his championing of income tax reform, with promises of a simplified structure of tax rates for individuals and lower tax rates on corporations. Yet at no time during the campaign did the president signal that the way his administration would pay for those moves would involve taking away one of the most popular and widely used tax breaks in the income tax system. Now, though, lawmakers are reportedly looking at removing the upfront tax deduction for traditional 401(k) contributions, and some proposals have even suggested taking away part of the tax deferral that 401(k) plans provide. With most Americans already saving an inadequate amount toward their retirement, changes to the rules would only take away a key incentive for setting money aside for the future and punish those who prudently plan for their retirement.[/quote] [url]https://www.usatoday.com/story/money/personalfinance/retirement/2017/04/24/is-donald-trump-about-to-take-away-your-401ks-biggest-tax-break/100837046/[/url] Ｗ　Ｈ　Ｅ　Ｗ　　Ｌ　Ａ　Ｄ　:what:

Wow, making America great again never seemed so shitty. Can we keep America shitty

Well yeah, what kind of future would we have without a steady supply of Walmart greeters? Gotta keep those old people working until the day they keel over in the Walmart break room.

God help us, now he wants to take a chunk out of retirement savings to fund his pipe dreams. You couldn't justify shit like this to save your life no matter what bullshit reasons you pulled out of your ass.

Is this going to cost him the elderly vote?

Keep the old working until they die and the young out of the job market...

Get rid of healthcare, slash retirement savings programs - it's all so clear to me now. He's still an Obummer/Killary plant. The FEMA camps and Operation Blue Jade didn't work, so instead they're just going to use Trump to get rid of all the services that keep old Republican voters alive, and then blame the Republicans for it. 76D Settlers of Catan.

what the fuck. oh ya we're going to piss on his grave if he does this, he litterally embodies the republican push to ensure there is no future

Destroying America's future, one policy at a time.

My dad is going to be in the retirement age in December, I hope he doesn't get screwed over

What possible reasoning has he been convinced with this time? Honestly he's malicious at this point

[QUOTE=HumanAbyss;52149125]What possible reasoning has he been convinced with this time? Honestly he's malicious at this point[/QUOTE] bombing the middle east isnt going to fund itself

Thank God the President can't make laws. No sane Congressman would vote for such an abysmal idea.

[QUOTE=Chonch;52149320]Thank God the President can't make laws. No sane Congressman would vote for such an abysmal idea.[/QUOTE] Well, it just so happens Congress is infested with lunatics.

[QUOTE=Chonch;52149320]Thank God the President can't make laws. No sane Congressman would vote for such an abysmal idea.[/QUOTE] Did you not read the article? [quote]Now, though, lawmakers are reportedly looking at removing the upfront tax deduction for traditional 401(k) contributions, and some proposals have even suggested taking away part of the tax deferral that 401(k) plans provide.[/quote] A large section of the article talks about congress's plan to change 401(k). [editline]25th April 2017[/editline] Like, Trump is likely towing Republican party line on this one, as it wasn't him but congress that started talking about this.

[QUOTE=Chonch;52149320]Thank God the President can't make laws. No sane Congressman would vote for such an abysmal idea.[/QUOTE] Republicans tend to vote for objectively awful things all the time though It's kind of their thing

Are we finally done justifying the existence of the conservative party now?

[QUOTE=Bbarnes005;52148779]Is this going to cost him the elderly vote?[/QUOTE] what does it matter? they already voted for him

And the vicious cycle continues. "Taxes are unfair, the wealthy deserve every penny they worked for! We're calling for tax reduction!" *applause* "Shit but stuff is expensive as fuck and we gotta pay for it somehow... Who's left to tax besides the rich?"

[QUOTE=Zero-Point;52150390]And the vicious cycle continues. "Taxes are unfair, the wealthy deserve every penny they worked for! We're calling for tax reduction!" *applause* "Shit but stuff is expensive as fuck and we gotta pay for it somehow... Who's left to tax besides the rich?"[/QUOTE] I'm surprised Trump supporters haven't taken off the glasses yet and realized Mexico isn't paying for shit and that Trump lied to their faces and their little brains ate it right up. He's accomplished nothing on his 100 days contact.

[QUOTE=Code3Response;52150414]I'm surprised Trump supporters haven't taken off the glasses yet and realized Mexico isn't paying for shit and that Trump lied to their faces and their little brains ate it right up. He's accomplished nothing on his 100 days contact.[/QUOTE] The ones remaining don't care about Trump's achievements, they care about 'triggering' the left.

[QUOTE=Bbarnes005;52148779]Is this going to cost him the elderly vote?[/QUOTE] It should cost him (and Republicans) the working class vote in 2018/2020 if it actually happens. 401k's are practically the only way lower and middle class Americans can reasonably set aside enough money for retirement.

[QUOTE=1239the;52150916]The ones remaining don't care about Trump's achievements, they care about 'triggering' the left.[/QUOTE] While also constantly pointing to any incident they can find of "leftist violence" and sharing it around as if it somehow puts them on the moral high-ground.