Page 22 - 401ks News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>>. >> they can do the corporate tax cut, that could maybe help the economy. the problem, truth in marking the president selling this as a middle cut tax cut t. way you will pay for it is by potentially taxing the middle class. you are talking 401ks, the state and local deduction, there is a lot of families we know, working families on the east coast who benefit from that sales tax, they're going to sit down with their calculators, physical out, guess what, these corporate companies will get a tax cut. my taxes are going to go up. >> from the east coast. the west coast from so that's a problem...

Elements of deals you don't want to negotiate with. 401ks kevin knows it and i think kevin brady is fantastic. he knows how important 401ks are. >> bill: you know how you can negotiate publicly and behind closed doors. what is the president's position? are the 401ks negotiable or not? >> he is committed to protecting people's future and protecting their retirement. this is a president who really wants to make this tax plan and the tax cut very focused on the middle class and by doing that we need to make sure we are protecting their future and retirement accounts. that's something this preside...

And giant corporations invested in us and they're demanding a return on their investment. and we better show them some return on their investment or they won't invest in the next election. that's how the game is rigged in washington. all of those families, all those veterans, all those active duty service members who said please keep the consumer financial protection bureau rule, please hang on to that rule because that rule gives me a chance to have a day in court. that rule gives me a chance to hold some bank accountable when they cheat me. the republicans couldn't even hear them. couldn't e...

Under way quickly. >> something else that's become a contentious issue. so far as relates to this tax bill. 401ks. the pretax max i believe is 18,000. there's some talk, there's so many talk that it would fall to $2,400 a year under this tax plan. >> yes. >> is that something that is politically feasible? >> no, we saw this with president obama. he tried to get rid of a sort of similar deduction that's mostly taken by middle class people related to college savings account. people are emotional about their 401ks. this is the primary vehicle for saving that most have aside from their home equity...

They cheat me. the republicans couldn't even hear them. couldn't even hear them, instead they said man, we got a show return on investment for our donors. that's, that's what's happened in washington. >> you know, they are now walking to this tax fight and i wonder what you make of it. just talk about a little bit back and forth on 401ks. you've got the president who has good political instincts frankly saying don't go after 401ks, they're like we might go after 401ks, are they going to come over state deductions, things that a lot of people use and comfortable so they can cut taxes on the top...