{"id":135134,"date":"2017-10-21T00:16:57","date_gmt":"2017-10-21T06:16:57","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/?p=135134"},"modified":"2017-10-21T01:36:27","modified_gmt":"2017-10-21T07:36:27","slug":"rob-middle-class-give-rich","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2017\/10\/21\/rob-middle-class-give-rich.html","title":{"rendered":"To rob from the middle class and give to the rich"},"content":{"rendered":"

I mean, that sounds like liberal rhetoric, but that’s precisely what some in the GOP are considering with their plan to cut income and business taxes — with the greatest benefits going to the most wealthy in our country — and paying for some of the loss in federal revenue by reducing the amount that people can put into 401(k) plans.<\/p>\n

401(k)s have been the centerpiece of retirement planning for decades for the middle class. They’re too paltry for the rich to worry about, and require more investment than the poor can afford. Thus, they are a tool for the middle class to sock away tax-reduced savings (the tax savings themselves being the most immediate incentive), to create retirement funds that make up for the societal loss of pensions, strong unions, and the constant threat to Social Security from the Right.<\/p>\n

So of course<\/i> the GOP would target that as a potential offset for tax cuts that add massive income savings for the richest among us, in both personal income taxes and business taxes. Because nobody<\/i> should feel financially secure about the future except the most wealthy, because God doesn’t like people who aren’t prosperous, and you can know that because prosperous people don’t have to worry about their (temporal) future.<\/p>\n

It might be worth your while, if you are at all looking at 401(k) investments to fund your retirement, to contact your congressional representatives and suggest to them that gutting your ability to save for retirement might result in their<\/i> early retirement from the halls of power.<\/p>\n


\n
\n<\/a>
\nRepublicans Consider Sharp Cut in 401(k) Contribution Limits – The New York Times<\/a><\/span>
\nA move to reduce contribution limits would almost certainly prompt a vocal backlash from middle-class workers who save heavily in such retirement accounts.<\/p><\/blockquote>\n

View on Google+<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

I mean, that sounds like liberal rhetoric, but that’s precisely what some in the GOP are considering with their plan to cut income and business taxes — with the greatest benefits going to the most wealthy in our country — and paying for some of the loss in federal revenue by reducing the amount that … Continue reading “To rob from the middle class and give to the rich”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":135151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[106,77,137,358,376],"tags":[1273,125],"class_list":["post-135134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-plusposts","category-economy","category-henoed","category-poor-citizenship","category-taxing-spending","tag-401k","tag-gop"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/10\/unnamed-10.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":133320,"url":"https:\/\/hill-kleerup.org\/blog\/2017\/04\/23\/tax-and-tax-cut-republicans.html","url_meta":{"origin":135134,"position":0},"title":"Tax-and-Tax-Cut Republicans","author":"***Dave","date":"Sun 23-Apr-17 12:21pm","format":false,"excerpt":"Oh, good. Apparently a big discussion point amongst Republicans scrambling to put together a \"tax reform\" bill that Trump announced was going to happen ASAP is ... making 401(k) contributions all after-tax rather than pre-tax (i.e., make all 401(k) plans into Roth 401(k) plans). https:\/\/blogs.wsj.com\/moneybeat\/2017\/04\/21\/grab-your-pitchfork-america-your-401k-may-need-defending-from-congress\/?mod=e2fbThat would net the federal government\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/04\/401k-15B15D.jpgimgmax%3D660.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/04\/401k-15B15D.jpgimgmax%3D660.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/04\/401k-15B15D.jpgimgmax%3D660.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":23187,"url":"https:\/\/hill-kleerup.org\/blog\/2011\/10\/25\/unblogged-bits-tue-25-oct-11-1730.html","url_meta":{"origin":135134,"position":1},"title":"Unblogged Bits (Tue. 25-Oct-11 1730)","author":"***Dave","date":"Tue 25-Oct-11 5:30pm","format":false,"excerpt":"Links (most recent first) that caught my eye, but did not warrant full-blown blog entries .... More trouble for Android, Apple granted Slide to Unlock patent - Really? That's a patentable item? Crikey ... How to Survive the Switch from Google Reader to Google+ - Will probably start playing around\u2026","rel":"","context":"In "Potpourri"","block_context":{"text":"Potpourri","link":"https:\/\/hill-kleerup.org\/blog\/category\/potpourri"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":135259,"url":"https:\/\/hill-kleerup.org\/blog\/2017\/11\/02\/gop-house-unveils-tax-cut-plan-will-cost-1-5-trillion-dollars.html","url_meta":{"origin":135134,"position":2},"title":"GOP House unveils a tax cut plan that will cost $1.5 trillion dollars","author":"***Dave","date":"Thu 2-Nov-17 9:36am","format":false,"excerpt":"While some of the scarier bits that had been floated as ideas have gone away, there, still plenty of goofiness in this plan, which largely benefits the most wealthy, because that's what they paid for with the GOP. It's worth noting that none of this is final -- further GOP\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/11\/paul-ryan.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":135323,"url":"https:\/\/hill-kleerup.org\/blog\/2017\/11\/08\/trump-makes-ultimate-sacrifice-middle-class.html","url_meta":{"origin":135134,"position":3},"title":"Trump makes the ultimate sacrifice for the middle class","author":"***Dave","date":"Wed 8-Nov-17 9:34pm","format":false,"excerpt":"Never mind what you've heard from ... well ... pretty much everyone. The GOP Tax Plan doesn't help the rich (like Trump). It actually hurts the rich (like Trump). How do we know? Trump is telling us. Or, rather, telling moderate Democrats, to encourage them to vote for the GOP\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/11\/tax-code-2017.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":133353,"url":"https:\/\/hill-kleerup.org\/blog\/2017\/04\/26\/on-the-the-trump-tax-plan.html","url_meta":{"origin":135134,"position":4},"title":"On the The Trump Tax Plan","author":"***Dave","date":"Wed 26-Apr-17 2:45pm","format":false,"excerpt":"Nobody likes taxes, whether or not they pay for our living in \"a civilized society.\" I mean, I didn't particularly care for cutting a check for income tax this year, nor the deductions that come out of paychecks.That said, taxes are a necessary thing, and so when someone promises to\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/hill-kleerup.org\/blog\/wp\/wp-content\/uploads\/2017\/04\/trump%2Btax%2Bplan.jpgimgmax%3D660.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":30486,"url":"https:\/\/hill-kleerup.org\/blog\/2012\/10\/05\/capping-tax-deductions.html","url_meta":{"origin":135134,"position":5},"title":"Capping tax deductions","author":"***Dave","date":"Fri 5-Oct-12 6:34am","format":false,"excerpt":"Romney's new plan to ostensibly let him lower tax rates while keeping revenues neutral by capping deductions sounds attractive on the face of it. It lets him claim to be revenue neutral (though see below) while not taking any heat for killing any particular sacred cows.But, once again, there are\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/135134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/comments?post=135134"}],"version-history":[{"count":1,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/135134\/revisions"}],"predecessor-version":[{"id":135152,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/135134\/revisions\/135152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/media\/135151"}],"wp:attachment":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/media?parent=135134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/categories?post=135134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/tags?post=135134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}