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10-21-2017, 01:31 AM | #1321 |
MVP
Join Date: Mar 2004
Location: Helena, MT
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That would be so ****ed up. Americans suck at saving for retirement already. Taking away the tax incentives to do so would only hurt that. Plus, 401ks are literally designed for the working class. The ultra wealthy all have trusts to shield them from tax obligations. This tax reform will be even more regressive than the previous system by the looks of it.
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Posts: 18,614
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10-21-2017, 01:39 AM | #1322 |
Banned
Join Date: Jan 2013
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Volumes will crash. Fluctuations will be weighted much heavier. Ergo: Volatility. Most investors like volatility.
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Posts: 53,803
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10-21-2017, 10:11 AM | #1323 | |
TACO SALAD
Join Date: Apr 2008
Location: yes
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Quote:
I know the Tea Party has been against it as a financial trick and not really fixing the spending/debt issue. It's just pulling future revenue forward |
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Posts: 6,305
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10-21-2017, 10:14 AM | #1324 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Well the IRS says **** you GOP!!!
$18,500 for 401k contribution. https://www.cnbc.com/2017/10/20/the-...ts-by-500.html |
Posts: 46,090
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10-21-2017, 11:55 AM | #1325 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
So I don't get a tax break if they limit my 401k that much. Fine, my federal taxes end up lower with this plan and my take home pay is more. However, I have to shuttle more of my take home pay into after tax investment accounts. However, the current max for a Roth IRA is $5,500 and if they cap the 401k at $2,400, my current yearly investment amount will be tremendously limited compared to where it is now ($7,900 vs $24,000). So I end up putting even more after tax money into a brokerage account which is taxed even further than either a ROTH or 401k. This is a **** on the middle class. |
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Posts: 46,090
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10-21-2017, 12:44 PM | #1326 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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I really don't understand what they hell is going on with the idea of pre-taxing 401K investments. Sounds like one of the dumbest ideas I have ever heard and would be a big disincentive to invest.
I want to see that it actually says as I keep hearing different stories on what it really is going to be. |
Posts: 52,239
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10-21-2017, 01:03 PM | #1327 |
TACO SALAD
Join Date: Apr 2008
Location: yes
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You'd get the same tax break as your ROTH IRA. The government limits your pre-tax contributions to 0 for your IRA. The question is should the gov limit your pre-tax contributions to a (traditional) 401k. This would force you to contribute to your ROTH 401k. You'd pay (more) taxes now instead of later. Its not a lowering of the total 401k max contribution. Just when you pay
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Posts: 6,305
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10-21-2017, 01:32 PM |
George Liquor |
This message has been deleted by George Liquor.
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10-21-2017, 03:25 PM | #1328 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
And my employer doesn't have a Roth 401k option, so it would definitely **** me. I contribute to my own ROTH IRA outside of my employer. |
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Posts: 46,090
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10-21-2017, 04:45 PM | #1329 | |
TACO SALAD
Join Date: Apr 2008
Location: yes
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Quote:
I still find that 2400 number laughable. That's vote yourself out of office territory. Edit:. One note, even if you do 100% ROTH contributions in a year any company match is treated as traditional. Last edited by ChiliConCarnage; 10-21-2017 at 04:56 PM.. |
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Posts: 6,305
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10-21-2017, 11:20 PM | #1330 | |
Veteran
Join Date: Oct 2008
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Quote:
The big gamble for most people when it comes to ira's is whether they will actually have an advantage if their contributions are pre or post tax. It depends on so many variables between their personal income level as they enter retirement (which can be strategized) and what tax law will look like when they finally do retire. There is no way to predict legislative risk for someone like me, with an RMD horizon 40 years away. But reducing the amount of tax shelter available between either of these is criminal for the middle class. people who are conscious enough to be investing at all will be forced to do so in a taxable account outside of a 401k (probably self directing), and incur significant capital gains repercussions in addition to all their investments being post tax. A Roth with no tax benefit. Most people will not notice anything besides an increase in their take home pay, and will not invest the difference. Which will significantly harm their retirement picture. |
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Posts: 1,606
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10-30-2017, 08:56 AM | #1331 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Let's talk about Alibaba.
Invest now as if it's the next Amazon? Or are we too late? |
Posts: 46,090
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10-30-2017, 08:58 AM | #1332 | ||
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
Looks like Trump took the correct stance on this. Good. Quote:
https://www.nytimes.com/2017/10/23/u...ax-budget.html |
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Posts: 46,090
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10-30-2017, 09:41 AM | #1333 |
MVP
Join Date: Mar 2004
Location: Helena, MT
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Posts: 18,614
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10-30-2017, 09:56 AM | #1334 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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I realize that things are changing in China, but any Chinese company is still one corrupt official away from being nationalized. I stay away from stocks in authoritarian countries.
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Posts: 142,751
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10-30-2017, 10:54 AM | #1335 | |||
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Quote:
Quote:
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2. BABA is MASSIVELY diversified in many other companies and is like a public VC firm. They have put chips on the table across many industries and companies. 3. While China's Communist Party can be a fickle bitch, they also are proud of their successful Chinese companies and also have investments in most of them! I would invest Lewdog. Maybe even some long term options so your risk dollars are minimal. There are long term BABA options that don't expire until Jan 2019, June 2019 or Jan 2020. |
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