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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump promises: 'NO change to your 401(k)'
Source: The Hill
President Trump on Monday tweeted that changes won't be made to 401(k) plans after reports that congressional Republicans were considering a major alteration to the retirement accounts in forthcoming tax-reform legislation.
"There will be NO change to your 401(k)," Trump tweeted.
"This has always been a great and popular middle class tax break that works, and it stays!"
Read more: http://thehill.com/policy/finance/356658-trump-promises-no-change-to-your-401k
How quaint, Medicare and Medicaid take a 1.5 trillion cut in the finances to support the same 1.5 trillion in deficit cuts over ten years---------------------while all of you are working to keep your 401K by king don the fucking con and the court of republican jesters and there fucking con job, just think you can save all of that 401K money that you want, but if you have no medicare, and no Medicaid and you get really really fucking sick--------------you can't eat money
This is just BS, time to go into the street, taking money out of treasury bonds trust fund paid for by workers to have medicare
Wounded Bear
(58,670 posts)Joe941
(2,848 posts)bitterross
(4,066 posts)With the way they want healthcare, you'll be forced to cash out your 401k anyway to pay for any major illness.
But, as you say, who's making enough to stop living paycheck to paycheck so that they can deduct money for a 401k?
Joe941
(2,848 posts)PA Democrat
(13,225 posts)The only thing you can count on with Trump is that he LIES.
Golden Raisin
(4,609 posts)onecent
(6,096 posts)I miss something??????????????????? Lordy I hope not!
turbinetree
(24,703 posts)"Over the next 10 years, the budget calls for $473 billion in cuts from Medicare and $1 trillion from Medicaid. They are part of $5 trillion in cuts mentioned overall, but most are not specified".
They are gutting 479 Billion of the treasury bonds that you and I and millions of others that paid into the Medicare Trust Fund, which was taken out of your paycheck when you worked, or are still working, earning 3.2% annually, they are taking from Medicaid over 1 Trillion in funds I TRILLION , last time I looked a home care facility costs over $90,000 a year if you are disabled, hey no problem throw them out on the street
0rganism
(23,957 posts)thanks Trump
Tobin S.
(10,418 posts)uponit7771
(90,347 posts)Merlot
(9,696 posts)They were never your freind to begin with. Like the ACA, they're what we're stuck with so we need to make them work.
haele
(12,660 posts)Before, it was the revenue people trying to push tax cuts - "Hey, we can reduce the deductions middle class people have, and get more revenue that way because people are still going to want to put aside money for retirement - they all know we're going to raid Social Security.
This way, we can get tax at least $15,500 more each year from all those uppity loser workers who think they've "earned" a right to retire! That's at least $10 million in tax revenue each year, plus all those fees they will have to pay if they want to get to their money..."
The financial people know it will hurt funds and other retirement investment vehicles that have been sucking off that sweet, sweet 401K money since the early 1990's. So it's a war between funding tax cuts, and protecting Wall Street.
Haele