Originally Posted by
GoCats67
Doesn't matter that you (and your employers) have been forced to pay into for your entire lifetimeou , you have been responsible and saved well for your retirement outside of Social Security and the government has been spending the Social Security Trustfund for generations, so you will just have to do without, Sorry!
Most of the people I know under the age of 50 are already expecting not to recieve social security. They are self funding their full expected retirement.
I fully expect the government to begin heavily taxing 401k accounts going forward when the national debt finally overtakes GDP sometime next year. That's when the real hurt starts. And it will be sold to the poors as "those rich people making over $200K a year aren't paying their fare share! They hide too much in those generous 401k accounts! Up to 18% of their income every month!"
Tax exemptions on 401k and Roth accounts will be eliminated and unrealized gains on those accounts will be taxed. Employer contributions will be classified as "imputed income". Most pilots over 40 have at least $1m in those accounts. You're a millionaire! Someone has to pay for all the social programs and wars you know. It ain't the guy working at Walmart.
I see this happening whether Trump or Harris win. The government is broke and they need the money wherever they can get it. American's 401ks are an irresistable piggy bank waiting to be raided.