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Reply With QuoteA flat tax would make your 401K worth about 30-40% more. Wouldn't that be nice to retire on? Or do you despise anyone with more money than yourself?Originally Posted by dukeanthony
Yes, he will cave like always
No, he will finally stand for something
And thats my point
Not one Flat tax scamnario covers Capital Gains or Investment income
Malcolm Forbes already said he got taxed on the money when he invested it
A flat tax would make your 401K worth about 30-40% more. Wouldn't that be nice to retire on? Or do you despise anyone with more money than yourself?
"All previous attempts to base money solely on intangibles such as credit or government edict, or fiat, have ended in inflationary panic and disaster"– Winston Churchill
Tetris Champion!
So putting America in the Hole is OK as Long as My 401k is worth more?
You do know that 401k plans are pretty much tax exempt until you retire ...right?
Do I know that 401K's are tax exempt? Were you unable to follow the logical assumption that if your 401K was not taxed when you went to cash in that you would have more money? I am just going to assume that you have zero experience in Financial matters since you just said that.
How can America be in the hole if everyone has more money? Or do you equate the amount of money Government has to spend as the basis upon which the USA is doing well or not? If that is the case then You would be for 100% taxation and letting the government feed, clothe and shelter you for your entire life. Is this your position?
"All previous attempts to base money solely on intangibles such as credit or government edict, or fiat, have ended in inflationary panic and disaster"– Winston Churchill
There are a few sharp liberals on this site, but duke is definitely not one of them.
Last edited by munch box; 09-21-2011 at 11:58 AM.
I don't think duke is dumb. Misguided, stubborn and quick to judge? Absolutely, but anybody that can take the heat from the Politics kitchen is OK by me.
"All previous attempts to base money solely on intangibles such as credit or government edict, or fiat, have ended in inflationary panic and disaster"– Winston Churchill
I have a 401
how about you?
It is taken out of my pay check and matched by my company Pre-tax
I.E. it doesnt get taxed
And while it accumulates it is tax free until I retire. then it is counted as income when i start withdrawing it
So again Please School me on 401ks, roth IRAs and FSA
I want to be educated
What will yield more? Compounding 2% interst on $100 or the same compounding 2% interest on $75? Please teach me how having less money makes America a better place. You are the only person I have ever met who is against having more of your own money. If you feel so strongly why not just write me a check every month for all the excess money you have, It will make America a better place, I assure you. Why even invest in a 401K with crappy returns when you can just give it all to the IRS, they take donations you know. Might as well start doing as you preach.
"All previous attempts to base money solely on intangibles such as credit or government edict, or fiat, have ended in inflationary panic and disaster"– Winston Churchill
What Part of 401k contributions is NON TAXED don't you understand? Not only is it NON taxed But they take it out PRE-TAX which means my overall Tax Burden is LOWERED
I'm going to have to answer My question for you and say
YOU DO NOT HAVE A 401K account
And as a After Note
My 401k took a dive in 2008 But has recovered rather nicely
Thanks Obama
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