So, Trump is giving corporations a 20% tax break and is taking away the tax benefit of contributing to your 401k. So he effectively took our money and gave it to corporations. Take that middle class.

OP didn't talk about wealth, that's correct. You did, EY4 and that's why I addressed you. I'm not a first generation college grad, so my comment isn't about my personal story. I just have enough common sense and empathy to recognize the advantages I have since my retired parents have a pension and long term care insurance, which is not the case for most first gen college grads. That helps me accumulate wealth. I will also have an inheritance. Please learn empathy.

Since I own stock in companies I would be pleased if they got a bump in performance. This would increase my portfolio and allow me to donate more to the causes that I really resonate with me instead of those that our wonderful politicians think are important and I could make that impact without government overhead.

Lol it'll never happen. Reducing 401k benefits is the way to piss off 100% of Americans. This is just spin.

There will be enough push back on this that it will never pass.

I donated to Hillary, I drive people to the polls, and I will donate even more and drive even more people in 2018 and 2020. To hell with this guy.

EY4, that's not how this works lol. Your income tier is determined by region, metro area, etc. 80k for a single person household in Houston is great, 80k for a single person household in San Francisco is not at all middle class. That's why I have an approximate range. Check out this tool developed by Pew, it allows you to input your household size, state, city, and income and then it tells you whether you are lower, middle, or upper class/income. http://www.pewsocialtrends.org/interactives/middle-class-calculator/iframe/

You complaining about 401ks mean two things: you aren't middle class, and you have first world problems

*80k in SF is not high income

Omg can he be impeached? I'll start the process, how do I do it?

Should've voted when you had the chance, now Hillary seems like the lesser of evils doesn't she!

P2, just stop it with the blaming Obama already mkay. Give it up. Your guy is a dud, own it.

Op I never defended trump and also never blamed Obama. I was just pointing out a fact. I hate trump. I don't think Obama was all that great of a president either. I am happy to call out double standards that so many blind partisan sheep (on both sides) perpetuate.

The 401k rule tax will only apply to immigrants

I mean it doesn't make it any better but Obama and democrats once pushed this too. I don't like this one bit but also realize that it would still allow Roth 401k which for many people is actually advantageous to a traditional 401k.

Employers will still match

Just like he was going to build a wall and make Mexicans pay for it, repeal Obamacare and stop terrorism?

I thought you are only allowed to post here from 150k and up ;)

OP your choice to live in one of the most expensive cities in the world with a career that doesn't vary pay significantly based on cost of living.
$80K is a lot in 90%+ of the country.

EY4, you have completely missed the point. Your assertion that a household of 1 making 80k was not middle class is false, there are many areas of the country where 80k is solidly middle class. And even in the areas where it isn't, those making that amount can't afford this tax increase. The point is, why give corporations a 20% tax discount and then pillage working folks?

It sucks big time. It's ridiculous, I don't understand how anyone thought it was a good idea.

A4, I corrected it to say 80k for a single person in SF is not high income.

It's the new normal OP. Just like cutting funding for housing authority, climate control and we are just sitting here and going on about our life.