You do understand that you do pay taxes on that money you invested right? The government is still taking their cut.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

The government declared war on Bitcoin and this is the first real fallout.

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Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Kash, and Don

Did they? FDIC insured is for a reason.

If you invested in SVB, you're screwed and not getting bailed out.

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You know me like that.

Some very rich people were about to lose a lot of money so Biden stepped in to assure them they wouldn’t lose money and (probably) bridge a sale of their pretend bank to a real bank.

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You do "understand" that the money will not be valued the same once they get their "cut" don't you?

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Wouldn’t that imply the money is less valuable to the individual as well?

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What do you mean it's not valued the same?

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

FDIC itself is subsidized by taxpayers. Thus anything that it does to insure YOUR money entails a subsidy on the part of Gov't and the taxpayers. WHich begs the question. If Private Industry is so "utopian" then why is it necessary for "evil Gov't" to insure YOUR money? Just Asking A Question

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I no longer want somebody to explain. Can Noisy explain what's happening?

The money you "defer" at age 30 will be worth much less (if anything) by the time you are age 60 and the Govt gets it's "cut". You understand how "inflation" works don't you Brick? And besides how is it possible for you to invest "Pre Taxed" income and not have it be some form of "subsidization"? Just Asking Questions

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Just another upward transfer of wealth. Typical day in America.

_________________
Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Kash, and Don

You just asked somebody to explain after saying you don’t want somebody to explain.

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You are either explaining this very poorly or you are missing one of the most basic things about a tax deferred investment. I don't invest in a 401k to have the money worth much less (if anything) by the time I actually can pull it out.


It's because the money still gets taxed. I am not being subsidized because I pay taxes on the money I earned.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Federal Deposit Insurance is paid by the member banks. The government may step in if things get out of hand. No person should keep more than $250k in any one account in a bank. That's on them.

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You know me like that.

It doesn't matter if this is the reason you "invest" in a 401k or not. This is what happens whether you want it to or not.



Sure it gets "taxed". At a much lower rate and only have a tremendous amount the money being "taxed" has already been wiped out by inflation. Brick in the effort of providing "full disclosure" for ya. I have been enrolled in retirement plans (other than my oft mentioned pension) for the better part of 2 decades. Thus I am well aware of how it "works".

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Noisy is not just anybody like the somebodys who answered. He IS somebody.

What about your company's payroll account?

_________________
Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Kash, and Don

I just hope this doesn't affect the next tranche to Ukraine.

_________________
Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Kash, and Don

There are certain accounts that cannot be handled in a completely risk-free way but to claim that FDIC is paid through public money is just wrong.

_________________
You know me like that.

Who is claiming that?

_________________
Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Kash, and Don

We actually sweep all our money every night against outstanding debt. We never have a daily cash balance.

_________________
You know me like that.

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You know me like that.

It may get taxed at a lower or a higher rate. There is no way to know. Now, if you want to get rid of the concept of tax brackets and have a flat tax then that is a different discussion as retirement money is more likely to pay taxes at a lower tax bracket but even then we don't know what the tax brackets will be.

Your point on inflation makes no sense.

It doesn't seem like you do though.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

I think Spaulding was asking you what caused the crisis.

The bill for zero interest came due among other things.

_________________
Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Kash, and Don

She was asking me? What the fuck do I know.

Interest rates are really the issue. You are correct. This is just the beginning.

_________________
You know me like that.

What I seek to "get rid of" is the concept of being able to invest your money when it is "pre taxed". Why shouldn't that money be invested "post tax"?
Makes perfect sense to anyone that understands how inflation works.
Just more idiotic gaslighting. Is there ever a post that is made by you that does not involve this? Just Asking A Question.

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Yeah you're right.

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That kinda is it in a nutshell. But Biden said it's Trump's fault this morning. Something about he doesn't care about trains' brakes.

You know a lot more than I do.

Beginning of what? Is this going to cause a complete financial collapse?

That's what is called an employee benefit. Like when a company pays 75% of the employee's health care premium or does some profit sharing.

I often suggest to young employees to take advantage of the Roth IRA feature of the 401k since they are typically in a low tax bracket and will benefit them in their retirement. Unfortunately, many don't have the disposable income to take advantage of that.

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You know me like that.