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Do Obama supporters want their 401k taxed and controlled by the government? ?
You better wake the F*** up people. Seriously.
The House Democrats are tabling a plan to take away your 401k tax breaks and force you contribute your election to a government run fixed pension account. I'm not kidding you.
Obama will complete the scheme by leaving the Democrats unchecked in the legislature. WAKE UP! When will all the nagging in the back of your mind be enough?
http://www.workforce.com/section/00/article/25/83/...
I am already taxed on my health care "child". I pay my premium with after tax money. McCain is going to write me a check for the entire cost. Put your condescension in check.
I am self-employed retard. I can deduct my premium now. After McCain I will not deduct it, instead I will get reimbursed the full amount. Perhaps you should grow a pair and stop working for someone else.
My point is that currently I can take a decution after I use after-tax to pay my premium. If your employer pay it using pre-tax, you are still only receiving a DEDUCTION of income. McCain wants to take away the deduction (as Obama likes to say "tax your plan"). In it's place he is going to issue a dollar-for-dollar CREDIT. A much better deal.
6 Answers
- 1 decade agoFavorite Answer
It's not Obama, it's George Miller (D-CA) and Jim McDermott (D-WA) that are considering it. And it's a proposal to take 5% of your income and put it into a new plan. Also it's including the elimination of the 401k tax break which would cause all sorts of problems in the 401k system. Link is attached.
- ?Lv 45 years ago
i'm not sure I have confidence your source, yet in spite of this - i could pay bigger taxes to get in the direction of the countless adjustments Obama desires to enforce. Indexing the minimum salary to inflation as an occasion is only difficulty-loose experience and that i can't think of why it hasn't already been accomplished. If he manages to do away with income tax for seniors making under a undeniable quantity (can't keep in mind the discern off the precise of my head whether it is all on his website), i'm extra effective than prepared to %. up the slack.
- 1 decade ago
this has ZERO shot of getting by even the most moderate of democrats let alone passing and getting to Obama. Shouldn't even be an issue except for those who realize that screaming out fire in a crowded theatre will get people to run for the exits leaving them to watch the movie alone....Are you one of those people?
And if you're paying for your premium with after-tax money then you need to stand up for yourself with your employer. A premium only plan (POP) is fairly easy to implement and costs only about $200. There is no government filing required and allows your boss to switch your premium payments from after-tax to pre-tax. It really is that simple...grow a pair and talk to your boss.
- wdx2bbLv 71 decade ago
If I am reading this correctly, one woman testifies before Congress about changing the 401K plan, and the stories have the entire system ready to be changed.
That's just bad analysis. Besides, any such changes would be about as popular as getting rid of social security -- legislation would be D.O.A..
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- Anonymous1 decade ago
Oh for gods sakes.... its McBush that wants to tax your health care child. Not Obama.
- Anonymous1 decade ago
Bush has devastated our 401K's. Plus your information is inaccurate.
