Morning Jolt: When Someone Proposes Taxing People’s Savings, Just Say No!

A genuine, non-sarcastic, authentic "hurrah" to this Tweeted statement from President Trump: "There will be NO change to your 401(k). This has always been a great and popular middle class tax break that works, and it stays!"

There are three main ways that Americans can save money for retirement. The first is an individual retirement account (IRA), where the money is not taxed when you deposit it or as it grows in value, but you pay income taxes when you withdraw it after retiring. The second is a Roth IRA, where you pay income tax on the money when you put it in, but don't pay taxes on withdrawals when you retire. The third is the 401(k), which operates like a traditional IRA but your employer offers a matching contribution up to a certain percentage of your salary. Many financial planners will advise you to contribute as much as you can afford to your 401(k), or at least to the matching limit, because if you don't, you're effectively turning down free money for retirement from your employer.

The 401(k) account is an incentive for Americans to save for the ...

October 23 2017

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When Someone Proposes Taxing People's Savings, Just Say No! Jim Geraghty A genuine, non-sarcastic, authentic "hurrah" to this Tweeted statement from President Trump: "There will be NO change to your 401(k). This has always been a great and popular middle class tax break that works, and it stays!" There are three main ways that Americans can save money for retirement. The first is an individual retirement account (IRA), where the money is not taxed when you deposit it or as it grows in value, but you pay income taxes when you withdraw it after retiring. The second is a Roth IRA, where you pay income tax on the money when you put it in, but don't pay taxes on withdrawals when you retire. The third is the 401(k), which operates like a traditional IRA but your employer offers a matching contribution up to a certain percentage of your salary. Many financial planners will advise you to contribute as much as you can afford to your 401(k), or at least to the matching limit, because if you don't, you're effectively turning down free money for retirement from your employer. The 401(k) account is an incentive for Americans to save for the ... READ MORE Hit the History Books (and Movies), Americans! Jay Cost By and large, the two parties have very different performance routines they employ to build and sustain their voting coalitions. The GOP will tell you that the Democrats are a bunch of godless... Birth, the Great Equalizer Michael R. Strain Birth, the Great Equalizer ADVERTISEMENT Reducing Gun Violence: Suggestions That Do Not Involve Gun Control Robert VerBruggen The violence that besieged a Las Vegas concert earlier this month is almost incomprehensible. Almost 60 died, and hundreds more were injured, as a deranged gunman rained bullets down on them... 'Weariness, Frayed Tempers, and Forgetfulness' Kathryn Jean Lopez Clearwater, Fla. — According to Google Maps, I'm 147 miles from the University of Florida in Gainesville, but that didn't keep people here from being on edge as a white supremacist was prepared... ADVERTISEMENT Passchendaele: The Lost Victory of World War I Nick Lloyd 'Confirms his position among the best young scholars of WWI in this comprehensively researched, convincingly presented analysis . . . [His] thesis is controversial, but his scholarship makes it impossible to dismiss.' - Publishers Weekly LEARN MORE World Series History Inside ISIS Strongholds ADVERTISEMENT Follow Us & Share 215 Lexington Ave., New York, NY, 10016, USA Your Preferences | Unsubscribe | Privacy View this e-mail in your browser.