BoatBanter.com - View Single Post - I will pay more in federal income taxes this year than ExxonMobil

bpuharic

On Thu, 08 Apr 2010 23:52:21 -0400, wrote:

On Thu, 08 Apr 2010 21:57:13 -0400, bpuharic wrote:

You seriously underestimate who owns stocks. I am far from rich and I
have always had a pretty good position in equities.
You are a fool if you don't. Has anyone ever explained how many fees
you are paying for that 401k

actually has anyone explained to you about the 50% matching and the
tax benefits? don't know of any investment that gives you 50% on your
money

I understand the matching and I took all they would match but that is
far from universal these days. There are big companies that don't
match at all. They are just doing that in lieu of a real pension
program.
The real problem is you don't know what the taxes on that money are
going to be when you take it out. You can bet your ass a government
that is going broke will be eyeing that big pile of money
The other problem is what do you think will happen to the stock market
when 83 million boomers start cashing in those 401ks?
I bet you will get your wish then and they will start treating capital
gains like ordinary income to slow selling but you don't get that
break on a 401k anyway.
Finally, you are whining constantly about haw badly the money managers
have treated your 401k money in the last few years and I am doing fine
running my own money

unfortunately i work for a living. i dont have the time to work AND
watch what the rich are doing. some of us have a life.

and, yes, i dont know what the tax man will do. but given that the
rich have impoverished the middle class by destroying pensions and
raiding 401k's now, there''s little to complain about; the damage is
done. that's why the rich need to pay more taxes NOW.