Joe Biden Promises To End Traditional 401(k)-Style Retirement Savings Tax Benefits. What’s That Mean?

Elizabeth BauerSenior ContributorRetirementI write about retirement policy from an actuary’s perspective.

Round about a month ago, I took a closer look at Joe Biden’s retirement-related policy proposals, or, more specifically, those of the “Unity Task Force,” which had just released its final document.

One of the items in that document and on the Biden campaign website is a promise to “equalize the network of retirement saving tax breaks” — a proposal that generally translates to eliminating the tax advantages currently enjoyed by retirement savings accounts and replacing them with a “credit” or “match.” The idea is that the tax advantages, or “tax expenditures,” as they’re called, disproportionately accrue to relatively higher earners, and the hope of a change is to provide benefits in equal measure to all income groups.

https://www.forbes.com/sites/ebauer/2020/08/25/joe-biden-promises-to-take-away-401k-style-retirement-savings-whats-that-mean/#24f34f574eb0

Poll: Fewer than half of all voters say Democratic VP pick Harris is qualified to become president

Whether the Democratic senator is qualified follows questions about whether the 77-year-old Biden is physically and mentally capable of running the country.

Fewer than half of registered voters say presumptive Democratic vice presidential nominee Sen. Kamala Harris is qualified to become president if circumstances should dictate she do so, according to a new Just the News Daily Poll with Scott Rasmussen.

Asked if Harris, a freshman California senator, is “qualified to serve as president of the United States” if “it were to become necessary,” just 47% of poll respondents said yes.

The remaining 53% of respondents said no (32%) or that they were “not sure” (21%). 

Responses from the two major political parties, meanwhile, were lopsided: Eight out of 10 Democrats said that Harris was qualified, while only 15% of Republicans felt that way.

Notably, just 39% of independent voters – a critical demographic for deciding elections – think Harris could properly handle the duties of the presidency. 

https://justthenews.com/politics-policy/polling/poll-fewer-half-all-voters-believe-kamala-harris-qualified-become-president

Rep. Buck: Actual national debt is $30 trillion, ‘There’s no conversation’ in D.C. about repaying it

‘This troubles me greatly, but all I see is more spending’ with ‘no conversation in Washington D.C. about how to pay this money back,’ Rep. Buck says

Rep. Ken Buck told Just the News that the national debt is $30 trillion when the actions that the Federal Reserve has taken during the pandemic are factored into the total.

“This troubles me greatly but all I see is more spending. So how high do we get? We are going to continue to spend until the markets say enough is enough and nobody buys the bonds and then we have the cliff that we go off of,” Buck said during an exclusive interview.

The government spent $864 billion more than it took in during June, bringing the deficit to a record $2.7 trillion so far this year.

According to Treasury Department data, the debt held by the public is $20.6 trillion, and the total outstanding national debt is more than $26.5 trillion. 

Buck, author of the new book, “Capitol of Freedom: Restoring American Greatness,” said he wrote the book, in part, because progressive politicians want to take the country in the wrong direction.

“I don’t think that our founding fathers would recognize our political system now,” Buck said. “I think that ‘Capitol of Freedom’ really spells that out because our founding fathers intended to realign the relationship between government and the people and the people are in charge of government and that’s something that didn’t exist before the United States Declaration of Independence and Constitution

“So I hope long before then we act responsibly and dial this back. But the reality is that we are at 30 trillion because we’ve authorized the Fed to engage in, you know, debt, accumulating more debt. And so I think that the spending is one of the largest issues to come out of this COVID. And unfortunately, there’s no conversation in Washington D.C., about how to pay this money back,” he also said.

“This group calls themselves progressives. They are regressives. We are moving backwards. We are moving more and more towards a totalitarian system that existed with a monarchy in Europe or some other country, and it’s just unfortunate, but our founders would see so much of what’s going on now in this country as contrary to what they planned,” he also said. by Nicholas Ballasay from JUSTTHENEWS.COM

Pence: ‘The Choice We Face Is Whether America Remains America’

TAMPA—Vice President Mike Pence portrayed a stark contrast facing America during a visit Wednesday to the swing state of Florida.

“We stand at a crossroads of freedom,” Pence said. “Before us lie two paths: One based on the dignity and worth of every individual, and the other on the growing control of the state. One road leads to greater freedom and opportunity, and the other road leads to socialism and decline.”

He added, “The choice we face is whether America remains America.”

Pence’s words drew strong applause from the 250 supporters gathered in the hotel ballroom. It was Pence’s third and final stop in the Tampa area, where he was greeted with flag-waving and sign-toting supporters along the route of the motorcade. Pence also visited a women’s medical clinic and a Baptist church Wednesday.

Throughout the day, Pence touted the Trump administration’s pro-life achievements and commitment to religious freedom while offering a warning to supporters on what the future might hold.

READ MORE https://www.dailysignal.com/2020/08/05/pence-the-choice-we-face-is-whether-america-remains-america/?utm_source=rss&utm_medium=rss&utm_campaign=pence-the-choice-we-face-is-whether-america-remains-america?utm_source=TDS_Email&utm_medium=email&utm_campaign=MorningBell&mkt_tok=eyJpIjoiTjJJMk5XUmlOREE0WVdVMSIsInQiOiJ3TEFXSlwvbkhLSk5VMDNWalR5NytRR1NSd2lJd3V3b25EMHpuSHRBNDA5azVVNWRuQzV2YXl4elwvT3BnK2NNczhhaGx3V0E4b1pQM1VrMnpHVEVTTnFNS2F5akwzWk51NkFPeDc2b3B4N2ZCOVlPSzdqTjhoNFVRXC9pUHpxN3BuYiJ9

Warriors

Every American who cares about this country needs “to step out of [their] comfort zone and go out and defend this republic. Because being on cruise control anymore is not going to work.” -Katharine Gorka @Heritage

It’s time to fight like the 3rd monkey on the ramp into the ark.

Whatever it takes we must never give up. Fight for this country. It is worth it.

Mike Pompeo @SecPompeo

The United States’ policy is crystal clear: The South China Sea is not China’s maritime empire. If Beijing violates international law and free nations do nothing, history shows the CCP will simply take more territory. China Sea disputes must be resolved through international law.