Pilot killing taxes?
02-26-2019, 06:08 PM
#221
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Joined APC: May 2006
Posts: 1,192
Originally Posted by Qotsaautopilot
I don’t know how factual that is. Maybe not wrong but unverified. Also not sure how it relates to my comment.
02-26-2019, 10:18 PM
#222
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Joined APC: Feb 2019
Posts: 144
Originally Posted by Slaphappy
CNN exit polling shows that trump won the majority of all over making above 50k a year.
I’m just going to leave this link here for you all to enjoy:
https://fivethirtyeight.com/features...ote-for-trump/
02-27-2019, 06:43 AM
#223
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Joined APC: Mar 2014
Posts: 3,097
Yesterday the fed chairman spoke.
I quoted that 17% figure in a post a few days ago and how it's unsustainable and acts as a tax on our economy.
Powell later added that the “single biggest thing” that drives the “unsustainability” is health care delivery. “We spend 17% of GDP, everyone else spends 10%. ... It’s not that benefits themselves are too generous. We deliver them in inefficient ways.”
https://finance.yahoo.com/news/us-de...192804468.html
https://finance.yahoo.com/news/us-de...192804468.html
02-28-2019, 04:45 AM
#224
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Joined APC: Feb 2018
Position: B-737 Captain
Posts: 649
Originally Posted by Slaphappy
eventually there will be 401k taxes before you take it out. I also foresee SS not going to people that have "too much wealth".
Laugh all you want but when we have presidential candidates talking about UBI and "Reparations" it's not out of the realm.
Laugh all you want but when we have presidential candidates talking about UBI and "Reparations" it's not out of the realm.
https://www.forbes.com/sites/dianahe.../#667519031dd8
02-28-2019, 07:10 AM
#225
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Joined APC: Feb 2008
Posts: 19,273
Originally Posted by guppie
I believe it!! Remember in 2017 when Congressional Republicans wanted to cut the 401K tax benies by 90% to help pay for that HUGE corporate tax cut? Guess they figured you have to fill that hole somehow. Shameless.
https://www.forbes.com/sites/dianahe.../#667519031dd8
https://www.forbes.com/sites/dianahe.../#667519031dd8
02-28-2019, 08:02 AM
#226
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Joined APC: Mar 2014
Posts: 3,097
Originally Posted by guppie
I believe it!! Remember in 2017 when Congressional Republicans wanted to cut the 401K tax benies by 90% to help pay for that HUGE corporate tax cut? Guess they figured you have to fill that hole somehow. Shameless.
https://www.forbes.com/sites/dianahe.../#667519031dd8
https://www.forbes.com/sites/dianahe.../#667519031dd8
The reality is the deferred tax structure doesn't really save much in taxes for the middle class (they still must be paid) and the vast majority of middle America would be better served contributing to the Roth accounts.
02-28-2019, 08:12 AM
#227
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Joined APC: Feb 2006
Position: 767A (Ret)
Posts: 6,248
Originally Posted by sailingfun
Again, 2 people put out a proposal and Wall Street and the internet go nuts. The above never so much as got a inch of support from anyone.
02-28-2019, 09:00 AM
#229
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Joined APC: Feb 2018
Position: B-737 Captain
Posts: 649
Originally Posted by Name User
I don't remember the exact specifics but IIRC they just wanted to do away with the tax deferred part of the 401k and switch it purely to the Roth.
The reality is the deferred tax structure doesn't really save much in taxes for the middle class (they still must be paid) and the vast majority of middle America would be better served contributing to the Roth accounts.
The reality is the deferred tax structure doesn't really save much in taxes for the middle class (they still must be paid) and the vast majority of middle America would be better served contributing to the Roth accounts.
https://www.google.com/amp/s/www.cnbc.com/amp/2017/10/25/rep-kevin-brady-says-401k-changes-could-happen-contradicting-trump.html
02-28-2019, 09:18 AM
#230
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Joined APC: Mar 2014
Posts: 3,097
Originally Posted by guppie
50-70 billion with a “B” annually depending on who you ask. That is what the 401K tax deferred bennies cost the Treasury every year. That buys a lot of tax cut. And the Rs knew it. As I recall, Kevin Brady (R- TX) was pretty adamant about it.
https://www.google.com/amp/s/www.cnb...ing-trump.html
https://www.google.com/amp/s/www.cnb...ing-trump.html
Also factor in that mostly only higher income people even contribute to a 401k, at least in any meaningful way.
Taxes will still be paid on deferred contributions, just not right away.
Oh
Oh and for the record yeah, major pilots would've probably gotten f'ed.
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