http://www.smallerindiana.com/forum/topic/show?id=1736855%3ATopic%3A168719The debate now is, even if you put that same money into 401k, you still would get taxed at the $100k a year. This is a classic example of imputed income tax. Taxing you on something that is considered of value even if you don't actually spend it at that time. The real kicker is, you still get taxed on this money in your 401k when you retire and start drawing down on that retirement account. This is called double taxation.
Now that goes to bring up a Bill that Bush passed in, in 2006..
http://www.penny-saved.com/2006/08/18/401k-changes-on-their-way/It looks and sounds good on paper, but when folks are being cut in pay on their checks without their knowledge or consent, theres something fucking wrong with that.
Now when you look at the '06 bill, then look at the proposed new changes of double taxation, it looks like the shit was set up in stage. If not in the least they are exploit the new 401k investments of the passed '06 bill.
Hears the serious thing. I was watching market news, and an analyst mentioned that congress looking to pass a bill under radar that would take a big chunk of 401k out and sink it into social security as "government financial investment".
I need to dig up more info to confirm that, but if you've got 401k, you need to be on your toes about this shit congress is trying to do.
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