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President Donald Trump said on Wednesday that changes to Americans' retirement-savings accounts could still be included in the forthcoming Republican tax-reform plan.
Trump was asked about comments from Rep. Kevin Brady, chair of the House Ways and Means Committee and an author of the forthcoming GOP tax bill, that there could be changes to retirement accounts like 401(k)s in the plan.
Trump said 401(k)s are "very important" to him because they benefit the middle class but suggested tweaks could be included.
"Well maybe it is, maybe we'll use it as negotiating, but trust me, that's one of the great things," Trump said. "There are certain elements of deals that you don't want to negotiate with — and Kevin knows this, and I think Kevin Brady is fantastic — but he knows how important 401(k)s are."
trust me
/----/ The president, no matter who he is, can't tell Congress what to do. Ever hear of the separation of powers?"Negotiate" with 401ks, huh? Interesting...
Trump contradicts his own tweet, says 401(k)s could now be up for negotiation
President Donald Trump said on Wednesday that changes to Americans' retirement-savings accounts could still be included in the forthcoming Republican tax-reform plan.
Trump was asked about comments from Rep. Kevin Brady, chair of the House Ways and Means Committee and an author of the forthcoming GOP tax bill, that there could be changes to retirement accounts like 401(k)s in the plan.
Trump said 401(k)s are "very important" to him because they benefit the middle class but suggested tweaks could be included.
"Well maybe it is, maybe we'll use it as negotiating, but trust me, that's one of the great things," Trump said. "There are certain elements of deals that you don't want to negotiate with — and Kevin knows this, and I think Kevin Brady is fantastic — but he knows how important 401(k)s are."
trust me
No, Mr. President, I won't trust you.
/----/ I like how Trump keeps you Libtards on full tilt.President Twitter changes his tune more often than an orchestra on LSD, by next week he'll be claiming that screwing over 401K and IRA participants was his idea all along.
Lowering the tax deferred threshold for 401K and IRA is about the stupidest idea in the history of stupid ideas, Americans already have a pathetic retirement savings rate and these idiots are talking seriously about lowering the incentives? Whats next? directly raiding citizens savings accounts?
If they need to offset tax cuts there's only one credible way to do it; fix the OUT OF CONTROL SPENDING STUPID.
/----/ I like how Trump keeps you Libtards on full tilt.President Twitter changes his tune more often than an orchestra on LSD, by next week he'll be claiming that screwing over 401K and IRA participants was his idea all along.
Lowering the tax deferred threshold for 401K and IRA is about the stupidest idea in the history of stupid ideas, Americans already have a pathetic retirement savings rate and these idiots are talking seriously about lowering the incentives? Whats next? directly raiding citizens savings accounts?
If they need to offset tax cuts there's only one credible way to do it; fix the OUT OF CONTROL SPENDING STUPID.
This a pretty bad fucking idea.
Okay, fair point there...Don't worry about it Mac, if you don't like it, there's plenty more fucking bad ideas where that one came from.This a pretty bad fucking idea.
/----/ I like how Trump keeps you Libtards on full tilt.
/----/ I like how Trump keeps you Libtards on full tilt.President Twitter changes his tune more often than an orchestra on LSD, by next week he'll be claiming that screwing over 401K and IRA participants was his idea all along.
Lowering the tax deferred threshold for 401K and IRA is about the stupidest idea in the history of stupid ideas, Americans already have a pathetic retirement savings rate and these idiots are talking seriously about lowering the incentives? Whats next? directly raiding citizens savings accounts?
If they need to offset tax cuts there's only one credible way to do it; fix the OUT OF CONTROL SPENDING STUPID.
The Republicans are also looking at deep cuts to SS and Medicare, and of course Medicaid. Trump will say the Congress did it.
This is the final takeover of the elites, his reign and the Republican congress.
/----/ Trump doesn't need anyone to defend him. It's you Libtards constantly defending Hildabeast and Obozo that is the issue./----/ I like how Trump keeps you Libtards on full tilt.President Twitter changes his tune more often than an orchestra on LSD, by next week he'll be claiming that screwing over 401K and IRA participants was his idea all along.
Lowering the tax deferred threshold for 401K and IRA is about the stupidest idea in the history of stupid ideas, Americans already have a pathetic retirement savings rate and these idiots are talking seriously about lowering the incentives? Whats next? directly raiding citizens savings accounts?
If they need to offset tax cuts there's only one credible way to do it; fix the OUT OF CONTROL SPENDING STUPID.
I like it when Trumptards run out of even remotely substantive arguments to defend Trump.
I like it when Trumptards run out of even remotely substantive arguments to defend Trump.
The Republicans are also looking at deep cuts to SS and Medicare, and of course Medicaid. Trump will say the Congress did it.
This is the final takeover of the elites, his reign and the Republican congress./----/ Trump doesn't need anyone to defend him. It's you Libtards constantly defending Hildabeast and Obozo that is the issue./----/ I like how Trump keeps you Libtards on full tilt.President Twitter changes his tune more often than an orchestra on LSD, by next week he'll be claiming that screwing over 401K and IRA participants was his idea all along.
Lowering the tax deferred threshold for 401K and IRA is about the stupidest idea in the history of stupid ideas, Americans already have a pathetic retirement savings rate and these idiots are talking seriously about lowering the incentives? Whats next? directly raiding citizens savings accounts?
If they need to offset tax cuts there's only one credible way to do it; fix the OUT OF CONTROL SPENDING STUPID.
I like it when Trumptards run out of even remotely substantive arguments to defend Trump.
/-----/ Because you say so. Are you ready to defend Hillary/Obama/Putin collusion? Well are ya punk?The Republicans are also looking at deep cuts to SS and Medicare, and of course Medicaid. Trump will say the Congress did it.
This is the final takeover of the elites, his reign and the Republican congress./----/ Trump doesn't need anyone to defend him. It's you Libtards constantly defending Hildabeast and Obozo that is the issue./----/ I like how Trump keeps you Libtards on full tilt.President Twitter changes his tune more often than an orchestra on LSD, by next week he'll be claiming that screwing over 401K and IRA participants was his idea all along.
Lowering the tax deferred threshold for 401K and IRA is about the stupidest idea in the history of stupid ideas, Americans already have a pathetic retirement savings rate and these idiots are talking seriously about lowering the incentives? Whats next? directly raiding citizens savings accounts?
If they need to offset tax cuts there's only one credible way to do it; fix the OUT OF CONTROL SPENDING STUPID.
I like it when Trumptards run out of even remotely substantive arguments to defend Trump.
lol, IOW Trump's actions and words are indefensible.
/-----/ Because you say so. Are you ready to defend Hillary/Obama/Putin collusion? Well are ya punk?
As always, the Media (and foolish Leftists) always take Trump literally, but never seriously.
His initial tweet was intended to say to his primary constituency (working-class people), "don't worry about the 401k changes; they won't hurt you." And we understood it that way. And that remains the "promise," which will not be broken.
Later, his minions pointed out to him that at some level, the 401k exclusion takes care of highly-paid people disproportionately, and at the top levels, some adjustments may be necessary to compensate for income tax shortfalls elsewhere. But this wouldn't affect anyone with a household income below, say, $100k.
The "bottom line" is that for working class people, the tax code and the tax payment/preparation process will be greatly simplified, and net tax payments will come down a bit.
Basically everything you read in the MSM ("TAX CUTS FOR THE RICH!!!!!") will be bullshit. The "Rich" will be paying more in federal income taxes, even at the lower rates. But you will not see that written in the New York Times or the Washington Post.
