Wall Street Journal: Kamala Harris is targeting your 401(K) | Eastern NC Now
Trump leaves 401(K) alone and wants to drop all taxes on Social Security
According to an article in the Wall Street Journal, Kamala Harris' tax plans will take a bite out of Americans' key retirement mechanism, their 401(K)'s. They will do this primarily two ways. By hiking corporate taxes, the Kamala Harris tax plan will result in lower dividends flowing into 402(K)'s. By raising the tax on capital gains, this will also take a bite out of 401(K)'s. When Kamala chants "soak the rich" she really means drown those saving for retirement.
As government debt skyrockets under the Democrats, a large part of "capital gain" is really inflation. The only way ANY capital gains tax is at all fair is to index for inflation. Inflation is NOT a profit to the holder of property or stocks.
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