| Submit your comments on this article |
| Economy |
| President Trump Opposes any Attempt to Reduce 401(k) Contributions |
| 2017-10-24 |
| [NYT] WASHINGTON ‐ President Trump said on Monday that he would oppose any effort to reduce the amount of pretax income that American workers can save in 401(k) retirement accounts, effectively killing an idea that Republicans were mulling as a way to help pay for a $1.5 trillion tax cut. The directive, issued via Twitter, underscored a growing fear among Republicans and business lobbyists that Mr. Trump’s bully-pulpit whims could undermine the party’s best chance to pass the most sweeping rewrite of the tax code in decades. Overhauling the tax code was never going to be easy given that it requires targeting lucrative and politically popular tax breaks to mitigate the magnitude of cuts Republicans are envisioning. Lawmakers must mitigate the revenue loss from those tax cuts in order to avoid a Democratic filibuster and pass a bill along party lines. |
| Posted by:Besoeker |
| #7 We would all be better off without any of these people |
| Posted by: newc 2017-10-24 14:21 |
| #6 Lib press taking points Gorb? Guessing. |
| Posted by: Woodrow 2017-10-24 13:07 |
| #5 So we're left with Roth IRAs. What's the big deal? |
| Posted by: gorb 2017-10-24 12:12 |
| #4 Lawmakers must mitigate the revenue loss from those tax cuts Typical NYT spin - every time major tax cuts happen at the Federal level, revenue increases. |
| Posted by: Raj 2017-10-24 11:32 |
| #3 Saving a little money is always a good thing. Putting money into gov't structured IRA's and 401k's is also a good thing as long as your remember that the gov't can change the rules. In retail it's sometimes referred to as 'bait and switch.' |
| Posted by: Besoeker 2017-10-24 08:53 |
| #2 Doesn't mean it woun't happen. It means that it's a bargaining chip. Trump always establishes a negotiating position past where he want's to end up. You have to be prepared to give something away in negotiations. |
| Posted by: ed in texas 2017-10-24 08:46 |
| #1 Congress still can't figure out that spending cuts can also balance budgets. The rent seekers must seek. |
| Posted by: AlanC 2017-10-24 07:54 |