401K cap is a Middle Class PAY CUT

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Wednesday October 25, 2017 · 1:13 PM PDT

2017/10/25 · 13:13

So Congress is considering capping the amount one can invest tax deferred in a 401K account. From a current $18K to $2400. About an 85% cut. To fund tax cuts for the rich. Now this alone is a huge WTF. But here is the thing many are missing….this is also a PAY CUT.

I am an executive assistant in NYC and I have always had a 401K account with a 100% from my employer. So every year I invest my limit of $18K and they match it, which means an $18K donation to my retirement account.

Now, the limit is $2400. So my 100% match is now $2400. I am not so good at math but that is $15,600 LESS I AM MAKING AT MY JOB. Now maybe some companies will donate to a Roth IRA instead, or maybe they will give you a unicorn too.

I am going to transition from a home office back to corporate for benefits LIKE THIS. The only thing left the middle class has that companies give us.

Am I the only one horrified by this? 42 percent of companies now match dollar-for-dollar. Others match 25% or 50%, but any way you look at it, it is PAY CUT TO THE MIDDLE CLASS.

Please get out the word.

Yoga teacher wants affordable health care

merrywidow

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Tuesday May 26, 2015 · 7:01 AM PDT

2015/05/26 · 07:01

Today's New York Post ran an oped by Gabrielle Gray who is complaining that she cannot afford health insurance now that she chose to leave her corporate job to be a yoga teacher:

ObamaCare has hit people like me the hardest. I left a desk job at The Post to dedicate my time to teaching yoga and developing a career in health and wellness (the irony of sacrificing my health insurance for this is not lost on me).
I’m teaching on a freelance basis. My husband is also a full-time freelancer, or a “perma-lance,” if you will. Our household income puts us just barely in the lower-middle-class bracket.
So we’ve decided we’re just going to pay the Affordable Care Act’s individual-mandate penalty: 2 percent of household income or $325 per person, whichever is more (of course).
Paying this and paying cash individually for whatever services we require is still far cheaper than buying a health-insurance plan.blockquote>

New York Post oped

merrywidow

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Monday April 28, 2014 · 9:29 AM PDT

2014/04/28 · 09:29

Shameless member promotion alert....my husband is writing a serial for the NY Observer called "The Pied Piper of Park Avenue." Thought you all might enjoy this:

THE PIED PIPER OF PARK AVENUE
By Jesse Kornbluth

Seniors from the most prestigious private schools in Manhattan walked out of school and filled a convoy of their parents’ SUVs with $6,000 of food and delivered it to a food bank in Harlem. Their parents were furious. The kids promised not to do it again.

merrywidow

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Wednesday September 26, 2012 · 8:31 AM PDT

2012/09/26 · 08:31

It's the most delicious irony.

In that instantly famous video, Mitt Romney disdained America's government-dependent "victims" with their tiny incomes and their microscopic dreams.

But who made the video that may have dealt the fatal blow to his campaign?

The help.

See below the squiggle for why that is a nightmare for Mitt...

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401K cap is a Middle Class PAY CUT

Yoga teacher wants affordable health care

Pied Piper of Park Avenue

Mitt's horror film: The Help!