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Old 01-08-2011 | 07:43 AM
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Default 401K Taxes ?

Just heard about this latest talk that our elected leaders are discussing a proposed TAX, on our 401K plans ??? What the hell ....................... ??? The same group also wants to get rid of our Mortgage Interest deductions ..................... ???
What say you ...................... ?
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Old 01-08-2011 | 09:30 AM
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Originally Posted by tennesseeflyboy
Just heard about this latest talk that our elected leaders are discussing a proposed TAX, on our 401K plans ??? What the hell ....................... ??? The same group also wants to get rid of our Mortgage Interest deductions ..................... ???
What say you ...................... ?
Don't worry about it. The teabaggers will save us.
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Old 01-08-2011 | 10:01 AM
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And you can keep the "Change"
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Old 01-08-2011 | 10:30 AM
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Everything's on the table; look at the debt they've stuck us with.
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Old 01-08-2011 | 10:47 AM
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Originally Posted by tennesseeflyboy
Just heard about this latest talk that our elected leaders are discussing a proposed TAX, on our 401K plans ??? What the hell ....................... ??? The same group also wants to get rid of our Mortgage Interest deductions ..................... ???
What say you ...................... ?
Yes and the same group that wants to do away with our Roth IRA's. The only saving grace that left is rental income, and that is of course taxed as well.
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Old 01-08-2011 | 10:50 AM
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Mass hysteria, cats and dogs living together.......
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Old 01-08-2011 | 12:56 PM
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Originally Posted by tennesseeflyboy
Just heard about this latest talk that our elected leaders are discussing a proposed TAX, on our 401K plans ??? What the hell ....................... ??? The same group also wants to get rid of our Mortgage Interest deductions ..................... ???
What say you ...................... ?
The sky is falling...the sky is falling!!!!!!
Are you the guy I flew with after Obama was newly elected that swore he was going to try and take your guns away. How'd that work out?

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Old 01-08-2011 | 01:07 PM
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All deductions should go away and tax rates should be slashed....And the government would have way more money....but what would all of those excess IRS people do?
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Old 01-08-2011 | 01:17 PM
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Originally Posted by tennesseeflyboy
Just heard about this latest talk that our elected leaders are discussing a proposed TAX, on our 401K plans ???
What say you ...................... ?
What sort of tax on the 401? The gains, every year? The balances?

Last edited by Night_Hawk; 01-08-2011 at 01:17 PM. Reason: spelling
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Old 01-08-2011 | 02:01 PM
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Not to worry, this scheme has been proposed by various means several times over the last decade or two. Usually in a moment of desperation upon discovery of sudden "unexpected" shortfalls. Thievery, even by royal decree, has limits.

The next thing we are going to see is EU style austerity measures, not because they want them, but because they are going to be forced on them by economic reality.
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