RE: The Lummis Shitcoin Bill Is A Joke
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It’s just a way for politicians to sure up their Ponzi and keep inflation down they get you to use these 401ks to defer your capital to the investor class so they can gamble with it
And if you touch it they nail you for. So what protection are you getting? What’s the benefit for the ordinary man? That doesn’t sound like something YOU OWN
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US law requires that investors pay capital gains when they sell a stock. The law makes it extremely difficult for small investors to trade stock as they would have to fill out forms. The tax was 35%. They lowered it to 15% or 20% depending on your income.
The 401 K law allows people to adjust their holdings without having to pay the tax. They only pay tax when they withdraw their funds in retirement.
Unfortunately, the law is used for social engineering. Every seemingly good law will eventually get perverted by the people in power.
!PIZZA
Yes they getting you to defer your savings so they can pillage it and walk street has more funds to make greter and greater speculative bets sucking fees out of people
It's so gross, I know when I retire in a few decades time that pension I have will be worth nothing
One strange advantage of the 401 K structure is that so many people have them that when the government engages in activities that hurt 401 Ks, people take notice.
A free society would be better than one enslaved by a paragraph in a US statute.
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