Many of us have seen our life savings excruciatingly go from 401k to 201k to even lower. Much of this is due to the insatiable greed of those who run Wall Street and the immoral actions in Filibuster Central™.
But many of us have had to do what everyone warns against: raiding our 401k's to pay bills and keep the house afloat as we face layoffs, bubble bursts and achievement of that oh-so-special 99 Weeks of Unemployment:
When John Veal, an IT manager from Cherokee County, lost his job, he cashed out his 401K savings plan to pay bills. For them and others, living is no longer about success; it’s about survival.
Happy happy joy joy!
As Republicans continue to fight for the right of the rich to party - at all our expense - we still get tepid support and milquetoast plans from Democrats. (No, I'm not the Professional Left. I am was the Volunteer Left).
Then it struck me: Tax Exemptions for anyone who's had to raid their 401k over the last 2 years, applicable at filing for next year's taxes.
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