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Adios to your 401 K cash? (Read 541 times)
mudslinger47
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Adios to your 401 K cash?
11/29/12 at 6:29pm
 
Hmmm, better get your stuff together....

http://www.cnbc.com/id/49976741


More talks about removing the interest write-off from your home purchase, Geee, just in time to "help" the middle class and crash the housing market one more time.  

Good God the obummer voters are a stupid bunch.  

More later from the land of the "unintended consequences".

Duane
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FASTMIKE
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Re: Adios to your 401 K cash?
Reply #1 - 11/30/12 at 6:39am
 
the only motive behind this would be to discourage savings and encourage dependency on a failing system.....oh yeah and to TAX the income contributed or NOT contributed to the 401k....
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dscEvents
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Re: Adios to your 401 K cash?
Reply #2 - 12/07/12 at 11:35am
 
mudslinger47 wrote on 11/29/12 at 6:29pm:
More talks about removing the interest write-off from your home purchase, Geee, just in time to "help" the middle class and crash the housing market one more time.  

Good God the obummer voters are a stupid bunch.  

Duane


A good example of a low information narrative.

Duane, you are correct that eliminating the home mortgage interest deduction will hurt both the middle class and the housing market.

But you seem oblivious to the fact that the proposal to eliminate "loopholes" like the home mortgage interest deduction is coming from Republicans and not Obama. The GOP is trying to trade these loopholes in order to avoid raising the top tax rates for the wealthy. Another of the loopholes the GOP wants to ditch is the deduction for charitable contributions, the deduction of health-care costs, and the deduction for state and local taxes.

Eliminating all these deductions will primarily hurt the middle-class and protect the rich from tax increases. Which is why Republicans are proposing closing these loopholes.

And as far as 401k's are concerned, the GOP has a long history of blocking reform on the biggest problem with 401k's. The enormous and confusing fee structure that enriches the financial institutions that manage these retirement accounts. Management fees, service fees, administration fees, transaction fees, and of course the fee they charge every time they need to wipe their azzes.

I know a little about this because I help manage my grandmothers finances and read a study on fee structure and their effect on 401k balances. Here it is if you have the time:

http://www.ici.org/pdf/rpt_11_dc_401k_fee_study.pdf

If you take a little time to educate yourself on the subjects you're commenting on, you may find out that you are supporting the ones that want to hurt you the most.
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mudslinger47
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Re: Adios to your 401 K cash?
Reply #3 - 12/07/12 at 12:34pm
 
The only thing a Democrat has "EVER" tried to do for me was pick my pocket to give it to someone else. Period.


Your speaking like a true obama-ite... Roll Eyes
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dscEvents
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Re: Adios to your 401 K cash?
Reply #4 - 12/07/12 at 6:19pm
 
Yeah, but am I wrong about the facts?
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mudslinger47
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Re: Adios to your 401 K cash?
Reply #5 - 12/07/12 at 6:58pm
 
dscEvents wrote on 12/07/12 at 6:19pm:
Yeah, but am I wrong about the facts?


I don't know if you are or aren't and I'm not going to spend three hours of my life reading anything that dry.  And it doesn't pertain to the subject at hand. If Obummer is talking about getting his hands on the 401k money, revisions can be writen at the drop of a hat to make it legal.  Remember, no one ever questions what this clown does.  If you do, your deemed a racist and ignored.  I read a line from a lady on another site talking about obummer, she said "He's like a pet monkey, kinda cute at first but after that he craps all over everything and makes everything a mess"   I thought she put it very well.

With my wife's 401K She lost over half her 401K value when obummer took office.  She never touched it, just let it ride and when she retired a month and a half ago it was back to the point that it was right before obummer took office.   There going to take another hit in Jan, maybe a big one, we'll have to see what happens with this cliff deal.  I've been around quite a while, I haven't seen anything the Democrats have done sense JFK that has helped either the populous or the economy, and don't bring up Klinton, he decimated the military to get the numbers he got .  

Duane
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