yeahyeahyay wrote:
post tax not taxed wrote:Not if you contribute post-tax monies to your 401K.
Um... Prez *did* propose taxing 529 plans... (analogous to Roth IRA/401k)
Prez also proposes to "cap" tax-advantage retirement savings (which amount to the same thing as taxing retirement savings--at least for those who save a lot).
Labor economist and Obama advisor Teresa Ghilarducci proposes eliminating the tax break people receive when they put money into 401(k)s and use the savings to create an entirely new system run by the government. Her alternative would "piggyback on top of Social Security" with a pooled fund Americans can contribute to, but is administered by the government. A certain rate of return is guaranteed.
That is exactly the kind of crap we must watch out for. Things like this happen quietly and through riders on bills or changes in the rules in a department here or there.
Pres. don't usually come on tv and say "I'm taking your retirement money!" They just slip it in some where.