Now that Biden is President-elect, lets go over some things.

[High Altitude]

Care to back that up? Here's what I found on it...

https://www.marketwatch.com/story/h...-for-americans-retirement-savings-11604767234

I read an article that showed that any family making 80k or more will pay more in taxes. 80k with two income earners is pretty middle class for any major metro area.

I personally would like to see that 80k threshold be higher.


Of course you have to contribute to your 401k, or even have one, for this to happen.

 

[Bobby 3 Sticks]

I read an article that showed that any family making 80k or more will pay more in taxes. 80k with two income earners is pretty middle class for any major metro area.

I personally would like to see that 80k threshold be higher.


Of course you have to contribute to your 401k, or even have one, for this to happen.

Mind linking the article? 80k seems incredibly low and absolutely should be higher

 

[Oooxente]

Idk about his plans but thats is basically whats gonna happen.

As soon as DJ gets put in the seat officially, give it a month or so,

Big tech and the media will start to divulge info about how the Covid spread is not that terrible right now, and suggest that there’s no reason to keep the US locked down.

Also there will be a good amount of suggestions that the best way to reignite the American economy for good is by finding a strong partnership with a certain country .

Say good bye to your blue collar/middle class and embrace your job at Amazon .

Or learn to code.

 

[High Altitude]

Mind linking the article? 80k seems incredibly low and absolutely should be higher

I did a quick search, 40k+ single or 80k+ married, will pay more in taxes.

https://www.forbes.com/sites/advisor/2020/09/03/joe-biden-will-not-kill-your-401k/?sh=41b4e6dc1989

"That means workers whose annual income push them into higher brackets—more than approximately $80,000 for married families filing jointly—would potentially face higher taxes, while those earning less than this amount would save more in taxes."

 

[Bobby 3 Sticks]

I did a quick search, 40k+ single or 80k+ married, will pay more in taxes.

https://www.forbes.com/sites/advisor/2020/09/03/joe-biden-will-not-kill-your-401k/?sh=41b4e6dc1989

"That means workers whose annual income push them into higher brackets—more than approximately $80,000 for married families filing jointly—would potentially face higher taxes, while those earning less than this amount would save more in taxes."

Ok yeah, that's based on an unknown flat tax rate... something should be done cause 80k is awful low to be losing out on deductions unless they're planning to try deductions back in

 

[High Altitude]

Ok yeah, that's based on an unknown flat tax rate... something should be done cause 80k is awful low to be losing out on deductions unless they're planning to try deductions back in

It would suck to only be making 40k/yr (about $20/hr), single, and your taxes go up because you voted for Biden.

The Biden group cared more about making it balance out neutral, instead of looking at it from an income standpoint. They dropped the ball on this one, but to be fair, no one puts these together with any real specifics, so it could easily change. It is really more of an idea of trying to make things more fair and encourage lower wage earners to save more (which I doubt will happen), than any type of specific policy. I doubt it would pass like this.