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Personal Finance and Investing

Ocelot II

(121,502 posts)

9. Abolishing isn't confiscating.

Reply to doc03 (Reply #6)

Thu May 9, 2024, 07:43 AM

May 2024

Your existing plan wouldn't be taken from you; new plans with the tax advantages of existing plans would no longer be offered. That's not confiscation.

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Think. Again.

19 replies

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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