Current Events > Trump says no changes to 401k plans under tax proposal

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Fossil
10/23/17 12:15:11 PM
#1:


"President Donald Trump said there will not be changes to tax-deferred retirement savings plans under his proposed tax plan, shooting down reports that House Republicans were considering tweaking or capping one of the most popular breaks.

There will be NO change to your 401(k), Trump said Monday on Twitter. This has always been a great and popular middle class tax break that works, and it stays!

https://www.msn.com/en-us/money/retirement/trump-says-no-changes-to-401-k-plans-under-tax-proposal/ar-AAtWgVK

b-b-bu dem repubbies said de would tak me monies!
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Anteaterking
10/23/17 12:15:50 PM
#2:


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itachi15243
10/23/17 12:17:46 PM
#3:


So it's basically confirmed to happen now.

Great.
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Darkman124
10/23/17 12:19:27 PM
#4:


i'd be more inclined to believe it if he were threatening to veto a bill that contained such language

that would explain why IWM is down today though
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s0nicfan
10/23/17 12:19:43 PM
#5:


So wait, are we saying now that whatever trump says he's going to do the opposite? Because I thought we were supposed to believe that everything he says is 100% going to happen, and any day now all the Mexicans will be trail of tears'd across the border where the wall is gonna come down to clear up enough of our prisons to begin hunting muslims down.

Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?
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Bishop9800
10/23/17 12:20:08 PM
#6:


I believe that like I believe Mexico is going to pay for the wall.
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Darkman124
10/23/17 12:26:13 PM
#7:


s0nicfan posted...
Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?


that game is called 'understanding context and inferences' and yes we are "playing" that game. every day, with every person, for the rest of our lives.

the only reason the outcome seems so poor for trump is he sucks at it.
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Anteaterking
10/23/17 12:29:40 PM
#8:


s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite?


I mean, you could choose to live your life following incredibly dumbed down axioms like this. Or you could apply context to situations instead of desperately grasping for a gotcha.
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s0nicfan
10/23/17 12:31:45 PM
#9:


Anteaterking posted...
s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite?


I mean, you could choose to live your life following incredibly dumbed down axioms like this. Or you could apply context to situations instead of desperately grasping for a gotcha.


So apply some context for me, here. A rumor spread that a tax plan was going to change 401Ks, and Trump has come out directly saying with no ambiguity that it won't. So why are we assuming in this instance it's a lie?

EDIT: That question is for @Darkman124 as well
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#10
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Darkman124
10/23/17 12:35:12 PM
#11:


s0nicfan posted...


So apply some context for me, here. A rumor spread that a tax plan was going to change 401Ks, and Trump has come out directly saying with no ambiguity that it won't. So why are we assuming in this instance it's a lie?


because the rumor originated from lawmakers who clearly have seen the bill and want it subject to criticism before the bill comes out and they're forced to vote up or down on it--not the ether--and his response is damage control, and is notably lacking in promises to veto such legislation if it landed on his desk

lying as part of damage control is a visible pattern within his administration, such that when we see him making a potentially false statement as damage control, past history leads us to assume it's a lie
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s0nicfan
10/23/17 12:37:31 PM
#12:


Darkman124 posted...
s0nicfan posted...


So apply some context for me, here. A rumor spread that a tax plan was going to change 401Ks, and Trump has come out directly saying with no ambiguity that it won't. So why are we assuming in this instance it's a lie?


because the rumor originated from lawmakers and his response is damage control, and is notably lacking in promises to veto such legislation if it landed on his desk


Under what context can you interpret his exact words: There will be NO change to your 401(k)" to mean that he wouldn't veto legislation that landed on his desk. If legislation lands on his desk, and he signs it, and it changes our 401Ks... that's pretty blatantly the opposite of what he said.

Even if it's damage control and they decided to back off of the idea, the ONLY way to interpret that his completely unambiguous words as proof he's going to do the opposite is by a contrived situation that would still violate his statement. It reeks of just looking for a way to turn a non-controversial statement into something bad.
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#13
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OpheliaAdenade
10/23/17 12:38:56 PM
#14:


what about my 401b plan? D:
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Darkman124
10/23/17 12:41:52 PM
#15:


s0nicfan posted...
It reeks of just looking for a way to turn a non-controversial statement into something bad.


his statement is not controversial

his statement is suspect of being a lie, because similar statements have been lies in the past

using stronger language that defines an action on his part in response to such a bill would mean a greater investment of political capital. the president's power to veto is a power to pressure capital hill. if he is publicly threatening the GOP, he is actually coming to bat for voters, rather than providing damage control for his party. in such a scenario, lying about his intent would be far more destructive for him than his present statement, and the most rational conclusion would be that while he has lied many times before, this time he's serious, because there's too much to lose.

he's not putting enough on the line with this statement for voters to trust that it is different from his present pattern of lies when attempting damage control.

granted, for many, nothing is enough to overcome the past history and the worst will always be assumed, but i am more generous than that.
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FLUFFYGERM
10/23/17 12:42:23 PM
#16:


Can't wait for those tax cuts to pass.
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#17
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s0nicfan
10/23/17 12:45:24 PM
#18:


Darkman124 posted...
s0nicfan posted...
It reeks of just looking for a way to turn a non-controversial statement into something bad.


his statement is not controversial

his statement is suspect of being a lie, because similar statements have been lies in the past

using stronger language that defines an action on his part in response to such a bill would mean a greater investment of political capital. the president's power to veto is a power to pressure capital hill. if he is publicly threatening the GOP, he is actually coming to bat for voters, rather than providing damage control for his party. in such a scenario, lying about his intent would be far more destructive for him than his present statement, and the most rational conclusion would be that while he has lied many times before, this time he's serious, because there's too much to lose.

he's not putting enough on the line with this statement for voters to trust that it is different from his present pattern of lies when attempting damage control.


We're just going to have to agree to disagree, then. The man knows weasel words enough that if he wanted to look good but cover his ass he wouldn't have been so blatant as to say There will be NO change to your 401(k)". That's Bush Sr. "Read my lips" levels of making yourself accountable to the result. I'd say he's putting it ALL on the line because what he said means any change to 401K plans through government action would be in direct contradiction to his statement.

If he had been overly specific, like "I won't propose a tax plan that will change your 401Ks" then I'd be in complete agreement with you, because the specificity would exist solely to allow other means of making it happen. In this instance, though, he cast a net too wide to allow for loopholes like that.

EDIT: I'm more likely to believe he's willing to commit to not changing the 401K plans because it's populist and he has no problem throwing his own party under the bus than I am likely to believe this is cover for something he personally probably cares very little about knowing that any changes that go into action will have huge negative consequences for his own base.
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Sylph
10/23/17 12:45:56 PM
#19:


"Oh man, you wouldn't believe how hard it was to get you these new tax cuts. We had to cut off some of the 401k options, but the program has a huge run, a tremendous run, and now it is time for something new!. Who knew taxes were going to be so complicated? Well now we worked out this deal on this great plan, this stupendous plan that will just do amazing things and bring us back from the disastrous tax codes of the Obama times."
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#20
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Darkman124
10/23/17 12:49:45 PM
#21:


Bullet_Wing posted...
FLUFFYGERM posted...
Can't wait for those tax cuts to pass.

You're probably not gonna notice much difference unless you make over 200k a year, lol. Not like Trump gives a damn about anyone below that.


he might be leveraged long on stocks that stand to see a benefit from the cut

steve mnuchin seems to think that most of that gain is already priced in though

i went long in the late spring and rode the summer highs, then stepped out. missed these more recent higher highs but got a nice 7% return on the trade. will prob go long again if the tax plan stumbles, after markets dive.
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CocteauQuintplt
10/23/17 12:51:08 PM
#22:


s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite? Because I thought we were supposed to believe that everything he says is 100% going to happen, and any day now all the Mexicans will be trail of tears'd across the border where the wall is gonna come down to clear up enough of our prisons to begin hunting muslims down.

Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?


No, race-baiter, we are treating him like a fucking liar.
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divot1338
10/23/17 12:51:26 PM
#23:


- tax cut for the superwealthy
- 401k changes
- stupid fucking border wall

Which one is going to be cut first?

Ill give you a hint. Its the one Trump doesnt care about.
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#24
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#25
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E32005
10/23/17 12:53:18 PM
#26:


itachi15243 posted...
So it's basically confirmed to happen now.

Great.

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FLUFFYGERM
10/23/17 12:53:23 PM
#27:


Oh I'd definitely see a difference.
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Caution998
10/23/17 12:54:11 PM
#28:


"we can still hate Trump for coming out and saying this won't happen guys!"
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CocteauQuintplt
10/23/17 12:55:17 PM
#29:


Caution998 posted...
"we can still hate Trump for coming out and saying this won't happen guys!"


"I found a piece of well-done ribeye up Trump's ass!" - Caution
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Mr_MacPhisto
10/23/17 12:56:22 PM
#30:


CocteauQuintplt posted...
s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite? Because I thought we were supposed to believe that everything he says is 100% going to happen, and any day now all the Mexicans will be trail of tears'd across the border where the wall is gonna come down to clear up enough of our prisons to begin hunting muslims down.

Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?


No, race-baiter, we are treating him like a fucking liar.

If I see you in a topic on 1 side of an issue, I'm always positive the opposite is true. It's very convenient on this board.
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#31
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Caution998
10/23/17 12:57:50 PM
#32:


CocteauQuintplt posted...
Caution998 posted...
"we can still hate Trump for coming out and saying this won't happen guys!"


"I found a piece of well-done ribeye up Trump's ass!" - Caution


I'm calling it how I see it. I do disagree with some of Trump's policies, but this is just mental gymnastics to maintain your hatred for him.
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CocteauQuintplt
10/23/17 12:57:52 PM
#33:


Mr_MacPhisto posted...
CocteauQuintplt posted...
s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite? Because I thought we were supposed to believe that everything he says is 100% going to happen, and any day now all the Mexicans will be trail of tears'd across the border where the wall is gonna come down to clear up enough of our prisons to begin hunting muslims down.

Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?


No, race-baiter, we are treating him like a fucking liar.

If I see you in a topic on 1 side of an issue, I'm always positive the opposite is true. It's very convenient on this board.


I've never shared false information here. So, you are basically admitting to fake news confirmation bias. How was Brietbart today?
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Darkman124
10/23/17 12:59:00 PM
#34:


Caution998 posted...
I'm calling it how I see it. I do disagree with some of Trump's policies, but this is just mental gymnastics to maintain your hatred for him.


i think most are not mad at him for this statement

we just don't believe him
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#35
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CocteauQuintplt
10/23/17 12:59:14 PM
#36:


Caution998 posted...
CocteauQuintplt posted...
Caution998 posted...
"we can still hate Trump for coming out and saying this won't happen guys!"


"I found a piece of well-done ribeye up Trump's ass!" - Caution


I'm calling it how I see it. I do disagree with some of Trump's policies, but this is just mental gymnastics to maintain your hatred for him.


Yeah, it's such a stretch to hate the most ineffective president of all time, could only do gymnastics to find things to dislike about him! Lol
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Caution998
10/23/17 12:59:48 PM
#37:


Which, btw, this is a very serious subject. I, among most other Americans, have a 401k, so if Trump doesn't keep true to his word, I'll be in line trashing him about this with the rest of you.
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CocteauQuintplt
10/23/17 12:59:52 PM
#38:


Bullet_Wing posted...
Mr_MacPhisto posted...
CocteauQuintplt posted...
s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite? Because I thought we were supposed to believe that everything he says is 100% going to happen, and any day now all the Mexicans will be trail of tears'd across the border where the wall is gonna come down to clear up enough of our prisons to begin hunting muslims down.

Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?


No, race-baiter, we are treating him like a fucking liar.

If I see you in a topic on 1 side of an issue, I'm always positive the opposite is true. It's very convenient on this board.

Says the guy who always takes Trump's side in any issue.


Yep, Macphisto is a joke.
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CocteauQuintplt
10/23/17 1:00:16 PM
#39:


Caution998 posted...
Which, btw, this is a very serious subject. I, among most other Americans, have a 401k, so if Trump doesn't keep true to his word, I'll be in line trashing him about this with the rest of you.


We will hold you to it.
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#40
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Mr_MacPhisto
10/23/17 1:01:14 PM
#41:


Bullet_Wing posted...
Mr_MacPhisto posted...
CocteauQuintplt posted...
s0nicfan posted...
So wait, are we saying now that whatever trump says he's going to do the opposite? Because I thought we were supposed to believe that everything he says is 100% going to happen, and any day now all the Mexicans will be trail of tears'd across the border where the wall is gonna come down to clear up enough of our prisons to begin hunting muslims down.

Or are we playing that game where we treat everything he says as 100% true if it makes him look bad, and 100% false if it makes him look good?


No, race-baiter, we are treating him like a fucking liar.

If I see you in a topic on 1 side of an issue, I'm always positive the opposite is true. It's very convenient on this board.

Says the guy who always takes Trump's side in any issue.

A professional shitposter quoting me. I'm flattered.
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CocteauQuintplt
10/23/17 1:01:40 PM
#42:


Darkman124 posted...
Caution998 posted...
I'm calling it how I see it. I do disagree with some of Trump's policies, but this is just mental gymnastics to maintain your hatred for him.


i think most are not mad at him for this statement

we just don't believe him


Exactly. 4 out of 5 of his statements are consistently false. It's good odds to just assume any comment he makes, about anything, is false or incorrect.
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AlternativeFAQS
10/23/17 1:02:05 PM
#43:


Fyi fossil is a Christian fundamentalist
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Caution998
10/23/17 1:02:37 PM
#44:


If you're already resigned to the fact that he won't keep his word, then enjoy your heart-attack dude.

Chill. Get angry when something actually happens. It's not healthy to be angry about something that he claims won't change.
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#45
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Anteaterking
10/23/17 1:05:13 PM
#46:


s0nicfan posted...
We're just going to have to agree to disagree, then. The man knows weasel words enough that if he wanted to look good but cover his ass he wouldn't have been so blatant as to say There will be NO change to your 401(k)". That's Bush Sr. "Read my lips" levels of making yourself accountable to the result. I'd say he's putting it ALL on the line because what he said means any change to 401K plans through government action would be in direct contradiction to his statement.


I think you can look at his statements on healthcare and see statements that don't leave any wiggle room.

"As his run for president took shape, candidate Trump boasted via Twitter, I was the first & only potential GOP candidate to state there will be no cuts to Social Security, Medicare & Medicaid before arguing that GOP also-ran Mike Huckabee was copying him. "

But he endorsed health bills that did exactly that.
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Darkman124
10/23/17 1:05:31 PM
#47:


Caution998 posted...
Chill. Get angry when something actually happens. It's not healthy to be angry about something that he claims won't change.


it's actually super useful to be acting in advance because then you'll call your congressman and tell them you don't want the law passed

seriously, i challenge you to let your house represenative know you, a republican who voted for him, don't want him to pass any tax bill that undermines 401k contributions, and you will vote against him in the future if he votes for it.

it's really bad to passively await the government passing laws to react to them. that is how government gets the idea that it can act without voter support.

nobody is angry here though

we just dont believe him.
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Caution998
10/23/17 1:05:39 PM
#48:


lmfao
If Obama said this exact line:

"WHEW that's a load off my shoulders!" - everyone in this topic

Me: "Well what if this still happens guys?"
Everyone: "OMG LOOK AT THIS IDIOT QUESTIONING OBAMA!"
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CocteauQuintplt
10/23/17 1:06:12 PM
#49:


Caution998 posted...
If you're already resigned to the fact that he won't keep his word, then enjoy your heart-attack dude.

Chill. Get angry when something actually happens. It's not healthy to be angry about something that he claims won't change.


Who here is displaying anger?

Chill. Get angry when we actually are angry. We are calmly explaining why Trump should not be believed.

Even though he lies 80% of the time, you still insist his statements deserve the benefit of the doubt? Lol
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CocteauQuintplt
10/23/17 1:07:24 PM
#50:


Caution998 posted...
lmfao
If Obama said this exact line:

"WHEW that's a load off my shoulders!" - everyone in this topic

Me: "Well what if this still happens guys?"
Everyone: "OMG LOOK AT THIS IDIOT QUESTIONING OBAMA!"


Oh look, you're just making up hypothetical bullshit now. People are not like you, generally. That is how you react.
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