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Nm

Ill add it to the boogie man list.
From the article:
"One of the items in that document and on the Biden campaign website is a promise to “equalize the network of retirement saving tax breaks” — a proposal that generally translates to eliminating the tax advantages currently enjoyed by retirement savings accounts and replacing them with a “credit” or “match.” The idea is that the tax advantages, or “tax expenditures,” as they’re called, disproportionately accrue to relatively higher earners, and the hope of a change is to provide benefits in equal measure to all income groups.

But how this translates in practice is not clear."

But from this, we get the provocative headline: Biden Promises to End 401Ks. [eyeroll]
 
From the article:
"One of the items in that document and on the Biden campaign website is a promise to “equalize the network of retirement saving tax breaks” — a proposal that generally translates to eliminating the tax advantages currently enjoyed by retirement savings accounts and replacing them with a “credit” or “match.” The idea is that the tax advantages, or “tax expenditures,” as they’re called, disproportionately accrue to relatively higher earners, and the hope of a change is to provide benefits in equal measure to all income groups.

But how this translates in practice is not clear."

But from this, we get the provocative headline: Biden Promises to End 401Ks. [eyeroll]
Selectively editing someone else's words in an attempt to manipulate and produce cognitive dissonance. Thats gaslighting.
 
The only real retirement change I want to see is all Presidential, Senate and congress retirement plans stopped. They are not Government employees, they are independent contractors, and should have the exact same deal I have as an self employed person.

They should have no retirement nor health insurance paid for by the tax payers. They already have enough other ways to steal and cheat their way into millions of dollars at the tax payers expense.
 
The irony is that 401k was originally designed for Executives. But it ended up applying to the common layperson who didn't have the discretionary income to fund a traditional IRA, like high income earners can.

Biden's proposal will destroy employer contributions and matches. It's just chronically stupid ... something that will hurt the Stock Market. The Stock Market's 'funding stabiliity' is built on 401k these days.
 
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