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A comment on The Pension Hole for U.S. Cities and States Is the Size of Japan’s Economy. Parent comment

Re:The Pension Hole for U.S. Cities and States Is the Size o... by closeparen on Tuesday July 31, 2018 @03:04AM (#17651116)
A government changing its mind about pensions could easily change its mind about the favorable tax treatment of 401ks. Or go even further and follow HN's exhortations to implement a wealth tax. Upper-middle-class retirement funds are a huge component of inequality; reducing that can only be good, right?
[ Parent | on HN ]
Re:The Pension Hole for U.S. Cities and States Is the Size o... by cobookman on Wednesday August 08, 2018 @09:13PM (#17721011)
You pay tax when withdrawing funds from 401k. Worst case they'll remove the 401k and force everyone to migrate to a Roth IRA. Which is the same as the status quo...aka not that bad.

As for Roth IRA. I don't trust the government to honor their end of the deal. I can see them taxing withdrawals for the top 10% in the future.

[ Parent | on HN ]