In response to:

Fiscal Cliff Idea: How About We Tax Your 401k?

InAmericaSince1627 Wrote: Nov 29, 2012 6:06 PM
MacQ, I am NOT the economic budget expert, although as an engineer I understand math, but a gentleman I heard on Hannity and Mark Levins radio show made a good case for it. But, even if it took 2-3 years longer, it is waaaay ahead of where we are now. I agree with you on taxing welfare and food stamps and for the reason you state. I have said for years those who collect from the government should not be able to vote.

How do you feel about the government touching your private retirement account known as your 401k in order to "pay down the deficit?" Not so good? Already feel like the government has stolen your retirement through Social Security? Well get ready because taxing the 401k is floating around as an idea while the fiscal cliff talks on Capitol Hill continue.

One of the earliest fears about tax-favored savings accounts like IRAs and 401(k) plans was that when this pool of savings grew large enough Congress would not be able to resist tapping it to help solve the...