nc

"...why is this consistently put forward by republican legislators as a solution to that problem."

It's not, it has always been presented as a benefit to the middle class. I have never heard a politician say tax deferred savings is a solution for the poor.

What is luxury to one person may not be a luxury to another person. That's why we want choices and not federal government control.

How we define middle class is irrelevant to this conversation. Again it's about making choses. Someone I might consider to be poor, may think they are middle class and have figured out a way to live a fugal life and contribute to their tax deferred savings.

Hillary is a murderer (view profile)	Posted 2:43 pm, 03/01/2017
Lag: That's because it's not designed to fix the problem for those whose have no money to put into savings. It's designed to help the middle class especially those who work hard, save their money and skip on luxuries.

Define Luxuries and define what you consider the middle class? Also I don't disagree it's not designed to fix the problem yet it falls back to the central question why is this consistently put forward by republican legislators as a solution to that problem.

Lag:

That's because it's not designed to fix the problem for those whose have no money to put into savings. It's designed to help the middle class especially those who work hard, save their money and skip on luxuries.

357:

Reinvesting my money in Corporations is a way for me to get a better return on my money and at the same time provide money to the Corporations to grow and provide more jobs to Americans so they too can put money into the tax deferred savings account and feed their children. A win-win.

357, i did not read that in this story anywhere. What I read was a family that works a job and makes money has a savings account, and they can save money and draw interest for their families, without being taxed on it. That is a great plan isn't it !!!!!!

so you are saying it is better to give the billions of dollars to major corporations instead of the children . can anyone really be that hard hearted. Isn't it better the children get it because none of us are ever going to see any of that money anyway

Lagran, the reason they do not have money for everything they need is simple.

Hillary is a murderer

Posted 10:17 am, 03/01/2017

Excuse me i meant to say tax deferred. Social Security benefits are also taxed in some cases so they are also not always tax free. I would also argue that sometimes it's about priorities. Some people could afford to save in the tax deferred savings accounts, but would rather buy a new car every three years. The point is let those who can decide where their money goes and not be forced under government control.

Again I don't disagree with this statement but it's still not addressing the problem.
When the problem is you have people who don't make enough to afford various services giving them a savings account tax free and patting yourself on the back for it ignores the root of the problem. I will even grant that for some people they could afford it if they managed their budget priorities properly. I could frankly care less about the people who are not managing their budgets properly frankly that's their problem. But that still leaves a substantial number of people who could work a budget all day and end up with the question do they eat or do they save.

Tax free saving account you mean a Roth IRA.

Excuse me i meant to say tax deferred.

Social Security benefits are also taxed in some cases so they are also not always tax free.

I would also argue that sometimes it's about priorities. Some people could afford to save in the tax deferred savings accounts, but would rather buy a new car every three years.

The point is let those who can decide where their money goes and not be forced under government control.

Hillary is a murderer (view profile)

Posted 8:15 am, 03/01/2017

Republicans believe that the less government control over the people the better. Creating tax free accounts such as a 401K allows us to accumulate wealth for retirement on our own terms without relying on social security. The more control we have over our money the better we will do. Anytime you have a government program that "provides" for the people you have strings attached that allows the Federal Government to control the people. People are tired of being controlled and that's why the Democrat party was featured on this season's "Biggest Loser"

Apparently you missed my statement earlier 401k accounts are not tax free. They are tax deferred there is a difference and its a big difference.

Republicans believe that the less government control over the people the better. Creating tax free accounts such as a 401K allows us to accumulate wealth for retirement on our own terms without relying on social security. The more control we have over our money the better we will do. Anytime you have a government program that "provides" for the people you have strings attached that allows the Federal Government to control the people. People are tired of being controlled and that's why the Democrat party was featured on this season's "Biggest Loser"

Three words: The Great Depression.

[email protected] (view profile)	Posted 8:12 pm, 02/28/2017
Short answer/question Why are 401K's not taxed?

They are actually.

Short answer/question
Why are 401K's not taxed?

I often wonder what Republicans are thinking on this. Don't get me wrong I find these tax free savings accounts to be great but then again I can afford to save money so for me personally these are useful things.