September 28, 2020

Joe Biden’s retirement plan would radically change your 401(k)

Joe Biden doesn’t seem like a radical, mostly because he’s not coherent enough to have much influence on the direction his party is taking.

But the people running Joe’s campaign are radical, and they have plans to transform America from the ground up. They won’t leave any stone unturned. One of the areas that they plan to transform is retirement savings accounts, including the one used by most Americans, the 401(k). 

As you might expect, the changes won’t reduce the tax burden on ordinary Americans. Instead, they’ll only serve to perpetuate the Democrat’s obsession with class warfare.

401k Specialist Magazine explains:

The basic thought is the proposal would replace pretax 401k contributions that Biden believes provide outsize tax benefits to the rich, and instead everyone would get a flat tax credit.

The problem with this is that in attempting to make everything more equal, Biden’s plan would hurt the employees of small businesses, which would be much less likely to match employee’s retirement contributions.

American Retirement Association CEO Brian Graff was recently quoted as saying, “Among ARA concerns would be how reduced tax incentives for small business owners would impact their willingness to make matching and other contributions or, even more worrisome, to have a plan in the first place.”

It’s amazing that the party that knows so little about the economy is so committed to transforming it. It’s a good reminder that you don’t want Democrats anywhere near economic policy.

Read the full story here.

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23 Responses

  1. He is afraid to face TRUMP and they will do every thing to keep him hid for he is in no shape to stand up agents TRUMP !!!!!!

  2. I wish to HELL that writers like you would STOP THROWING OUT A STUNNING HEADLINE PROMO that indicates one story (usually 5bells on the old AP machine) then print an article about something totally different. That’s totally ABSURD.

    1. I totally agree, big blistering headlines, then totally unrelated to story, think this is called fake news, why , just why can’t news outlets just report the facts, unbiased, let the viewers themselves determine its validity, instead of being left leaning reports as the public as a whole are not ignorant so stop treating them so. I’m beginning to whenever I see these articles just deleting them, and if they persist I unsubscribe!!

      1. Biden’s family should be ashamed for putting him through the rigors he can not withstand. They would rather see him humiliated than give up the benefits of the White House.

  3. All news sites use the sensationalized headline to make us want to read, and then it is the opposite or, it is the same story but under a new headline so we have to go ‘read it again’. Irksome!!

  4. Right on, BBT. It is annoying as the devil. I may just stop subscribing to all of them. They c;an publish away and no one with any intellect will be reading them.

  5. PATHETIC–AGAIN !!! Once again THIS Web Site launched this “SO CALLED Article”, with the Headline offering something that was NOT AT ALL AVAIABLE in the pages. IF, THAT’S A BIG “IF” This Mis-labled “Digest” continues to misrepresent itself, I will be obliged to delete without reading the page(s), and Most Likely CANCELL MY ACCESS. Obviously, I’ll miss NOTHING! Ray

  6. this whole system is soooo screwed up….sorry to say this
    make sure you vote,,,, we have to put a stop to this Nonsense…..

  7. Biden is not running for President, Nancy Pelosi is telling him what to do and when to do it, he is just another studge for her, he does not have enough gual or sence to to do any thing for himself, he is a nothing and his running mate is just like him

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