In response to:

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

Steve276 Wrote: Nov 29, 2012 5:42 PM
And the Democrats are doing a masterful job of setting them up (GOP) to be the bad guys. The Republicans are going to get hammered and cannot do a thing about it, regardless of which way they jump. The Democrats have planned it and the MSM will assure it. They have simply out maneuvered the Republicans and the 2014 elections will substantiate that. Lordy, Lordy, what have 52% of the voters done to us and what else do they have in store for what will remain of the U.S.A in 2014 and 2016?

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...