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Larry66

(32 posts)

2. dual rules

Reply to TheMastersNemesis (Original post)

Tue Mar 24, 2015, 11:47 AM

Mar 2015

Another example of the double standard for the wealthy and the rest of us.

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401K Cruel Joke On Workers. Taxed As Regular Income On Distribution. Not Part Of Capital Gains Rate [View all] TheMastersNemesis Mar 2015 OP

You're lucky they're actually letting you keep your 401K, taxed and all Wella Mar 2015 #1

dual rules Larry66 Mar 2015 #2

Are your comments geared at 401Ks in general or Senator Rubio's tax bill?? cbdo2007 Mar 2015 #3

In A Sense Both. TheMastersNemesis Mar 2015 #7

My 403(b) statement shows my contribution and my institution's contribution alcibiades_mystery Mar 2015 #4

The reason is that your 401k contributions come from pre-tax dollars, Nye Bevan Mar 2015 #10

AND there is a way to turn your 401-k into a Roth at some point. dixiegrrrrl Mar 2015 #32

We should demand that Congressional pensions be replaced with a 401k retirement plan! B Calm Mar 2015 #5

They already have a similar style fund madville Mar 2015 #23

Sure they got that too, but they also get a very nice pension after only 5 years in office! Like B Calm Mar 2015 #24

401Ks effectively provide a fully tax-free return, thanks to the deductibility of the contributions, Nye Bevan Mar 2015 #6

Saying that 401(k) contributions are "deductible" is a bit of a misnomer A HERETIC I AM Mar 2015 #8

The key point is that the after-tax cost to you of contributing $100 to a 401k is $70, Nye Bevan Mar 2015 #9

I was just going to edit my post when I saw you responded! A HERETIC I AM Mar 2015 #11

I would just add that all but the rich can open a Roth IRA, Nye Bevan Mar 2015 #12

This message was self-deleted by its author A HERETIC I AM Mar 2015 #13

Deleted above cause I can be too quick! A HERETIC I AM Mar 2015 #14

Not just the rich. dixiegrrrrl Mar 2015 #33

Buying one share of XYZ corporation for $70 lumberjack_jeff Mar 2015 #18

I'm not sure I follow. Nye Bevan Mar 2015 #19

You understand - despite my poorly worded post. lumberjack_jeff Mar 2015 #21

Moreover, rogerashton Mar 2015 #27

Leona Helmsley was right - it's the little people that pay the big taxes. bullwinkle428 Mar 2015 #15

Absolutely true and terribly unfair! n/t Still Sensible Mar 2015 #16

Just another way for thieves and liars to get their hands on money they don't work for. n/t jtuck004 Mar 2015 #17

Another thread in which some DUers pass up the opportunity to learn something onenote Mar 2015 #20

that is because a 401K is funded with PRE-tax income, same as an IRA magical thyme Mar 2015 #22

Thanks for the information. Vinca Mar 2015 #25

and if taken early you are charged a fee, even if you are unemployed, and the 401k is audited Demonaut Mar 2015 #26

And more of us who are losing our savings when unemployed are forced to cash them in now too.. cascadiance Mar 2015 #31

401Ks RobinA Mar 2015 #28

There needs to be more flexibility for 401s BeyondGeography Mar 2015 #29

But the initial investment wasn't taxed. Yo_Mama Mar 2015 #30