401k potentially going away

Trump confirmed it won’t.

edit: on this --> on anything

It would not happen, all sides oppose this

Trump says he won’t change 401k. His lips are moving, so I don’t believe him. He also said he wouldn’t cut Medicare or Medicaid, and there’s something like 13% to Medicaid related spending. The GOP need revenue streams to make their massive tax cuts look not so bad on the CBO scoring. If they did this, it would be fucking awful. Oh and I love how under this plan individual can’t deduct state income taxes, but corporations can. Wow.

https://www.google.com/amp/s/www.cnbc.com/amp/2017/10/27/rep-kevin-brady-says-lawmakers-considering-raising-401k-contribution-limit.html

What everyone needs to remember is the republicans are trying to push this tax reform through using reconciliation. That way there can be no filibuster and only a majority vote to clear it. The problem with this is the rules of reconciliation say the budget cannot add to the deficit. So they have to balance tax cuts with spending cuts. That’s why they’re reaping away money from Medicare and Medicaid, restoring taxability of 401k (ie making them de facto Roth’s), and cancelling the state income tax exemption. The republicans cannot pass reconciliation that isn’t balanced. So the question is who is going to pay for the tax cuts?

Making America Great Again by destroying the middle class. Step one: eliminate defined benefit pensions, institute 401(k)s. Step two: take away the shitty plan that replaced the Cadillac pension benefits. That’s sure to go over real well with traditional GOP voters... or maybe it will? You can die at your desk thinking “I really stuck it to that black Kenyan Muslim, didn’t I...”