Joe Biden's Changes For Your 401k

by | Sep 27, 2022 | 401k | 23 comments

Joe Biden's Changes For Your 401k




Presidential candidate Joe Biden wants to change tax benefits for traditional retirement accounts. He proposes to eliminate deductions and replace them with a flat tax credit.

Have a question for the show? Call or text 574-222-2000 or leave a comment!

Want to speak with a Certified Financial Planner™? Visit www.korhorn.com or call 574-247-5898. 

Find more information about the Wise Money Show™ at www.wisemoneyshow.com

Be sure to stay up to date by following us!
Facebook –
Twitter –
Instagram –

Want more Wise Money™? Read our blog!
Listen on Podcast:
Subscribe on YouTube: …(read more)


LEARN MORE ABOUT: 401k Plans

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing


See also  How much money should I have in my 401k to retire?
Truth about Gold
You May Also Like

23 Comments

  1. Russel Street

    don't worry you won't have a 401k when he gets done

  2. Erth Mann

    This goes to people thinking that there is something wrong with the investors that pay the most in taxes will receive the biggest savings with a tax deduction.

  3. F430 Ferrari

    Democ Rats take the cake. Sure the 37% get more if taking out pretax but they have to pay more to begin with!!

    Maybe Biden should consider a flat 10% for all! Isn’t this what Jesus said to do?

    Always the lazy poor stealing from the hard working rich. This is the truth. Not the other way around.

  4. George Huerta

    People in the highest tax bracket don’t put their money in a government plan like a 401(k) that’s for employees and the working slaves that’s what that’s for so guess who’s gonna pay more taxes everybody that has a get up and go to work

  5. D May

    People just read the bill

  6. D May

    And have to pay back employer sponsored college tuition

  7. D May

    You disagree it's in the bill , your wrong sir , it gets taxed twice. And wait till workers see health benefits

  8. D May

    Sir read the bill

  9. Chumba Wumba

    The Dems see every dollar tax sheltered as a dollar STOLEN from the Govt. What a bunch of idiots that simply want to buy votes by playing Santa Claus. The very reason that 401k/403b was set up was to help working class not have to solely rely on Social Security. And you can bet they will find any/every way to tax Roth at some point … already talking about that and also that they want to force employer contributions to a Roth, so they can tax it!!!!

  10. Thomas Chen

    we now have the thread the needle… trying to save as much as possible to we have enough to retire comfortably, at the same time, not to save too much so the government dont force early RMD on you

  11. Tim Toolman

    The lower income lower tax bracket 401k contributors will be handed free money. The higher income contributors will fund the wealth transfer.

  12. Robert Hummel

    How about a retirement plan that people can not touch Wall Street Washington and other people who did not work for it

  13. john thomas

    I'm the only person earning income in my family, so doing a Roth it's more money coming out now. If you are consistent with saving putting more money in pre tax will earn more and the amount of tax paid later will take many years to catch up and break even if ever.

  14. c17360

    Why make it more complicated? As Biden would say himself, Why? Why? Why?

  15. Atlas Shrugged

    Tax everyone at an equal percentage across the board. Problem solved.

  16. Happy Triggertime

    Sounds like a setup to push people to the Roth so they can change that law and tax withdrawals on Roth as well. If there is one thing they are good at is double and triple taxation.

  17. The Sprabary Family

    then do a fair tax!!!! tax everyone the same! how is it fair to tax more, just because they work their ass off to make more money?????? incentive to be lazy?

  18. Ann Mitt

    Watching this video April 2021. Biden released his tax increase plan. It's pure evil..

  19. Josh Barber

    Tax codes are complicated by design. People who can pay enough to get themselves in front of a congressman help to write that tax code to benefit them so specifically that sometimes it only applies to that individual. Start calling your congressman and demanding simplification of the tax law. One that I've been proposing is to combine traditional and Roth, no tax in, no tax out as long as it's held to 59.5 and also raise the limit on IRAs to 10k.

  20. Jeff Kia

    I’m 57 years old and retiring at age 60 or 62, I have 700K i want to make close 1 Mil when I retire in my 401K and also playing catch up, my wife and I make a combined 140K per year, why would I convert to a Roth? Wouldn’t a Roth benefit someone in their 20’s, 30’s, or early 40’s

  21. Roman Hollow

    The rich will find many ways around whatever democraps throw at them. They have always outsmarted politicians and always will.

  22. Roman Hollow

    Wow. Don't tell me democraps are planning on taking more of our money. Gotta pay for illegals healthcare somehow.

  23. Carlos Lopez

    Voted for the Big Guy?
    Pay the consequences.

U.S. National Debt

The current U.S. national debt:
$35,911,107,598,198

Source

ben stein recessions & depressions

Retirement Age Calculator

  Original Size