Tweet
http://www.dailyherald.com/business/20170903/analysis-gop-needs-to-pay-for-tax-cuts-your-401k-may-help
That's not the original article I read floating it, but there are others around. Apologies if this came up somewhere else already...
Yes I know classify this under things that may not happen and which need more detail to evaluate anyway.
But if Trump's floated idea of taxing 401k contributions goes into effect, would there be any advantage to a regular 401k over a Roth 401k (for those who have one available)?
I suppose it depends on if he taxes contributions it at marginal income tax rates vs. some lower flat rate, but curious if people would change their behavior if it was taxed at marginal rates.
I'm surprised I haven't heard more people speaking up negatively about this the way they did when Obama floated adding taxes to 529 plans. Maybe it hasn't become concrete or detailed enough...
That's not the original article I read floating it, but there are others around. Apologies if this came up somewhere else already...
Yes I know classify this under things that may not happen and which need more detail to evaluate anyway.
But if Trump's floated idea of taxing 401k contributions goes into effect, would there be any advantage to a regular 401k over a Roth 401k (for those who have one available)?
I suppose it depends on if he taxes contributions it at marginal income tax rates vs. some lower flat rate, but curious if people would change their behavior if it was taxed at marginal rates.
I'm surprised I haven't heard more people speaking up negatively about this the way they did when Obama floated adding taxes to 529 plans. Maybe it hasn't become concrete or detailed enough...
Comment