What everyone misses here: caps could adversely affect employer matches, since those would become taxable income for most.
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Also for 401, you pay taxes on withdrawals, meaning gains are taxed. Roth doesn't tax gains. Trillion in lost tax revenue.
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Repubs would be stupid to touch these accounts! Middle class would be mad as hell like when Obama tried to take 529 away from MC!
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401k was enacted into law 1978. The average family in this country makes 47k and saves 4% so avg savings is under 2k per year.
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The middle class income spread is vast and income is higher on the coasts with higher cost of living. Can’t paint it all with one brush.
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Last time I checked those areas of the country like to share the wealth with others
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We like sharing the wealth with lower income people, not giving another huge monetary gift to the 1%.
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That is exactly what lowering the 401k deferral amount will do
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@KySportsRadio think there's any way the higher ups got to Bevin & encouraged him to switch state retirement toward 401k for this reason?Thanks. Twitter will use this to make your timeline better. UndoUndo
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man, i'm scrolling thru, I catch "crushed nest eggs", see two people in chairs on a beach, & my 1st thot, "Oh no!, those poor baby turtles"
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@WhiteHouse@PressSec@VP@SenateMajLdr@SpeakerRyan@FoxBusiness@nypost@WSJ@VP@realDonaldTrump Please don't mess with our 401K's!Thanks. Twitter will use this to make your timeline better. UndoUndo
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