Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

SWBTATTReg

(24,494 posts)

2. This has been touted as an option for some time. I doubt that it'll happen, but what I do think will happen is that

Reply to doc03 (Original post)

Thu May 9, 2024, 07:09 AM

May 2024

the ability to fund your own 401Ks and IRAs will diminish or reduce in the amounts you can put into these accounts. This option has been mentioned too in the past.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

19 replies

= new reply since forum marked as read

Highlight:

Watch out some economists are floating the idea of confiscating [View all] doc03 May 2024 OP

Where do you see anything in the article about confiscation? Scrivener7 May 2024 #1

They use the word eliminated, sounds like the same thing doc03 May 2024 #3

Eliminate tax breaks is different than taking your money. 3Hotdogs May 2024 #7

It sounded to me TheFarseer May 2024 #13

If they eliminate the tax advantage it would be the same as eliminating doc03 May 2024 #14

But that is still not the same as "confiscating." 3Hotdogs May 2024 #18

Not the same thing at all. They're not going to confiscate your accounts. Scrivener7 May 2024 #16

This has been touted as an option for some time. I doubt that it'll happen, but what I do think will happen is that SWBTATTReg May 2024 #2

Nothing is getting confiscated. Ocelot II May 2024 #4

Second paragraph. They propose (abolishing) tax sheltered plans like 401K doc03 May 2024 #6

Abolishing isn't confiscating. Ocelot II May 2024 #9

It doesn't say abolishing the (tax benefit) it says abolishing (tax sheltered plans) like doc03 May 2024 #11

You're really fighting hard to see a disaster that simply isn't there. Scrivener7 May 2024 #17

Hollow out people and give tax break to corporations bucolic_frolic May 2024 #5

There were many of my fellow workers that would not put money in a 401k doc03 May 2024 #8

SS is actually paid into by those that collect it later... Think. Again. May 2024 #10

I have been on SS for 14 years, I skimped and doc03 May 2024 #12

Could your headline be more misleading and alarmist? 58Sunliner May 2024 #15

As many have pointed out... no confiscation. Furthermore... Happy Hoosier May 2024 #19