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The party of PERSONAL RESPONSIBLITY wants to cut your 401k cont. from $18,500 to $2,400

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alangrrbs

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Joined: Aug, 2011

Posts: 4739

Posted: Oct. 27, 2017 - 3:10 AM ET #26

Quote Originally Posted by I_Need_A_Detox:

This Scalabrine fella thinks the Trump Train is the same as the GOP?

I've posted just a few threads in the political forum...by far the most popular one with the most feedback was the thread about the Carrier Deal Trump and Pence made here in Indiana.

My Dad worked for the IRS 38 years auditing big companies, and my uncle owned his own accounting firm for 40 years, so I'm very up to date on numbers, taxes, and economic policies. Heck, one of my best friends family owns a health insurance company, so I even have inside info on health insurance policies. I've voted Republican and Democrat in my life...when numbers don't add up, it really bothers me, and I know that's boring, and nobody on any side wants to hear boring numbers talk these days. They want passionate affirmation, and not information. But I'm always looking at whether the policies promised add up numbers wise.

I don't watch cable news, listen to political talk radio, or go to political websites like Breitbart. And I know I'm a nerd, but when a policy is presented I look at how the numbers work and not how the politics work.

The statement Detox and DSN made about the Trump Train, and not being the GOP is very interesting to me. I was wondering if one of you could create a separate thread about the difference between Trump support and the GOP. I know there's a big backlash about the current "establishment" both GOP and Democrat, and I'm genuinely curious what the Trump Train means as opposed to the GOP.

Detox, if you're interested, if you could create the thread, just label it "Trump Train v GOP" that would be a great start, and then we can go from there. I know there will be others that will want to jump in and give their responses, but I'd love to ignore them for now, and just hear from you and DSN. Nothing explosive, or controversial...just me picking your guys' brains about the difference between the Trump Train and the GOP. If you're up for it, I look forward to it, if not no worries. Thanks Guys.

Quote Originally Posted by I_Need_A_Detox:

This Scalabrine fella thinks the Trump Train is the same as the GOP?

I've posted just a few threads in the political forum...by far the most popular one with the most feedback was the thread about the Carrier Deal Trump and Pence made here in Indiana.

scalabrine

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Posts: 28221

Posted: Oct. 27, 2017 - 9:12 AM ET #27

Of course Trump is different than the establishment GOP.

That IS a separate thread.

What do I care in this thread?

They BOTH agree on MASSIVE tax shifts to benefit the Uber-wealthy and to even SUGGEST taking away one of the best tax savings one could ask for in 401k is mind-boggling. That is the POINT.

So I still ask, where is ONE Covers member who supports this????

ClubDirt

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Posts: 28196

Posted: Oct. 27, 2017 - 10:15 AM ET #28

Quote Originally Posted by SarasotaSlim:

"Poor people have been voting for Democrats for the last fifty years... and they are still poor." ~ Charles Barkley

the 10 poorest states are red states although i guess you could argue new mexico is purple.

https://www.usnews.com/news/best-states/slideshows/the-10-states-with-the-highest-poverty-rate

as for the welfare argument, republicans have been spending who knows how many trillion on corporate welfare. how has that helped poverty, the poor or the middle class?

I_Need_A_Detox

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Posts: 27139

Posted: Oct. 27, 2017 - 10:55 AM ET #29

Scalabrine, show me where Donald Trump supports taking away anything to do with 401k?

I_Need_A_Detox

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Posts: 27139

Posted: Oct. 27, 2017 - 11:00 AM ET #30

Because the Official Poverty Measure excludes the high cost of living on the coasts, it undercounts poverty in California and New York while exaggerating poverty throughout much of the South and Midwest. This leads to a gross misunderstanding of poverty, much of it willful, by those who advocate for higher taxes and more government spending.

https://www.forbes.com/sites/chuckdevore/2016/09/28/why-does-california-have-the-nations-highest-poverty-rate/

SarasotaSlim

Covers Rehab

Joined: Jan, 2007

Posts: 35543

Posted: Oct. 27, 2017 - 4:55 PM ET #31

All the Liberals can stop clutching pearls...over this false and misleading thread.......

What the lawmakers are considering is increasing the contribution limit for 401(k) retirement savings plan...............

CNBC has confirmed that lawmakers are now looking at raising the 401(k) contribution limit to $20,000 or more. That is a reversal from earlier panicky reports that lawmakers were considering reducing that tax-deductible amount to as low as $2,400....

Rep.Kevin Brady said he has talked to President Donald Trump twice this week about 401(k)s.....and .."He'd like to raise the limits so people can save more in those plans. So do I. I think that's a good start," Brady said.

mattbrot

Captain

Joined: Jan, 2005

Posts: 6840

Posted: Oct. 27, 2017 - 4:58 PM ET #32

Quote Originally Posted by ClubDirt:

the 10 poorest states are red states although i guess you could argue new mexico is purple.

https://www.usnews.com/news/best-states/slideshows/the-10-states-with-the-highest-poverty-rate

as for the welfare argument, republicans have been spending who knows how many trillion on corporate welfare. how has that helped poverty, the poor or the middle class?

not only are they the poorest, unhealthiest, most uninsured, most uneducated etc...

But they are also the highest states in government welfare (they are given proportionately more than they provide). And have the most on welfare. Argue it all you want but it is true...

I_Need_A_Detox

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Posted: Oct. 27, 2017 - 5:20 PM ET #33

California is the country's poorest state

https://www.laweekly.com/news/california-is-americas-poverty-state-7380756

ClubDirt

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Posts: 28196

Posted: Oct. 27, 2017 - 5:33 PM ET #34

detox is making the same point we are. in california, the richer counties are the coastal counties and with the exception of orange county, they re generally blue. the poor counties are the more inland counties and are generally red.

this can be measured a few different ways, but the bible belt states from the article above are dirt poor by any reasonable measurement.

I_Need_A_Detox

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Posted: Oct. 27, 2017 - 5:39 PM ET #35

22.2% of people in DC are living in poverty.

20.6% of people living in California are living in poverty.

Awfullllllly blue places.

Democrats seem to be great at creating MASSIVE wage gaps.

I_Need_A_Detox

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Posted: Oct. 27, 2017 - 5:42 PM ET #36

LA County was California's poverty leader with 27% of its residents living in poverty.

Are you suggesting LA County is a red county?

Hugh_Jorgan

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Posted: Oct. 27, 2017 - 5:42 PM ET #37

Quote Originally Posted by Hugh_Jorgan:

So let's start a thread about it and begin the hysteria now ... because ...

"NOTHING may happen to 401k's"

bigreds daddy

ClubDirt

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Posts: 28196

Posted: Oct. 27, 2017 - 5:46 PM ET #38

Quote Originally Posted by I_Need_A_Detox:

LA County was California's poverty leader with 27% of its residents living in poverty.

Are you suggesting LA County is a red county?

here's the map

https://calbudgetcenter.org/blog/a-county-by-county-look-at-poverty-in-california/

I_Need_A_Detox

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Posts: 27139

Posted: Oct. 27, 2017 - 5:53 PM ET #39

How did the residents in LA County vote in 2016?

Clinton: 2,464,364

Trump: 769,743

How did the residents of Washington DC vote in 2016?

Clinton: 282,830

Trump: 12,723

I_Need_A_Detox

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Posts: 27139

Posted: Oct. 27, 2017 - 5:57 PM ET #40

We use the real poverty level on the Trump Train

None of this fake news stuff

Hugh_Jorgan

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Posts: 22961

Posted: Oct. 30, 2017 - 7:50 AM ET #41

Quote Originally Posted by wallstreetcappers:

The fact it was even ever on the table for discussion is pretty poor, it is a direct tax on the lower and middle class and would for sure dissuade people from building a 401k AND corporations from matching.

I know all about the Roth plan blah blah blah but we have a Roth already at lower limits, this scheme is nothing but a smack down tax on the middle guy to justify a corporate tax cut and military build.

Its really shocking that these dopes would even try to portray this as some positive opportunity, do they just think people are stupid?

1) The President tweets about 401's being "on the table"

2) The MSM, and everyone else on the left losses their sh!t (see this thread for proof)

3) Not only is the 401 still available, but the GOP actually INCREASED the allowed investment

4) The MSM, and everyone else on the left go silent

5) President Trump laughs

https://nypost.com/2017/10/29/gop-tax-plan-will-expand-amount-americans-can-invest-in-401ks/

bigreds daddy

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