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Personal Finance and Investing

SWBTATTReg

(22,550 posts)

2. This has been touted as an option for some time. I doubt that it'll happen, but what I do think will happen is that

Reply to doc03 (Original post)

Thu May 9, 2024, 08:09 AM

May 9

the ability to fund your own 401Ks and IRAs will diminish or reduce in the amounts you can put into these accounts. This option has been mentioned too in the past.

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Watch out some economists are floating the idea of confiscating [View all] doc03 May 9 OP

Where do you see anything in the article about confiscation? Scrivener7 May 9 #1

They use the word eliminated, sounds like the same thing doc03 May 9 #3

Eliminate tax breaks is different than taking your money. 3Hotdogs May 9 #7

It sounded to me TheFarseer May 9 #13

If they eliminate the tax advantage it would be the same as eliminating doc03 May 9 #14

But that is still not the same as "confiscating." 3Hotdogs May 9 #18

Not the same thing at all. They're not going to confiscate your accounts. Scrivener7 May 9 #16

This has been touted as an option for some time. I doubt that it'll happen, but what I do think will happen is that SWBTATTReg May 9 #2

Nothing is getting confiscated. Ocelot II May 9 #4

Second paragraph. They propose (abolishing) tax sheltered plans like 401K doc03 May 9 #6

Abolishing isn't confiscating. Ocelot II May 9 #9

It doesn't say abolishing the (tax benefit) it says abolishing (tax sheltered plans) like doc03 May 9 #11

You're really fighting hard to see a disaster that simply isn't there. Scrivener7 May 9 #17

Hollow out people and give tax break to corporations bucolic_frolic May 9 #5

There were many of my fellow workers that would not put money in a 401k doc03 May 9 #8

SS is actually paid into by those that collect it later... Think. Again. May 9 #10

I have been on SS for 14 years, I skimped and doc03 May 9 #12

Could your headline be more misleading and alarmist? 58Sunliner May 9 #15

As many have pointed out... no confiscation. Furthermore... Happy Hoosier May 15 #19