Tax cuts in exchange for employee pensions?

[6SpeedTA95]

Just wondered who else would be in favor of dollar for dollar tax cuts to employers who offered pensions to their workers? I was listening to NPR on the road today and they were talking about the pension bill that passed the house not being a real benefit.

Seems to me the biggest obstruction to pensions is the cost. Decrease costs in one area, via taxes and you create incentive for employers to offer good retirement plants in addition to 401ks. Thoughts on this?

[WickedLou9]

The problem with a corporate pension is that the company can go under and your pension goes under with it. There is alot more security in the government then in one single private company. It would make more sense to offer firms tax breaks if they offer significant matches on a 401K. At least that way the money is yours to invest.

[motivez]

I agree with Lou.. what happens if they go under and aren't able to fufil their obligations? Do they then pay back taxes for failure to live up to their obligations that then gained them those taxes, or would they be protected under bankruptcy laws?

Also, nice second option. Either agree or never cut taxes ever no matter what!

[6SpeedTA95]

Originally Posted by motivez

I agree with Lou.. what happens if they go under and aren't able to fufil their obligations? Do they then pay back taxes for failure to live up to their obligations that then gained them those taxes, or would they be protected under bankruptcy laws?

Also, nice second option. Either agree or never cut taxes ever no matter what!

If you dont agree to a tax cut that could help literally MILLIONS of working people in this country then when would you support a tax cut?

You guys are failing to acknowledge insured pensions. It's very possible for a corporation to use an insured pension so if they go under the pension stays afloat.

They had two dems on NPR today saying that 401k's are not the right avenue because workers are allowed to borrow from the 401k's and no one is required to contribute.

I think matching dollar for dollar tax cuts with employer 401k contributions would also be a good idea, however, I dunno that I'd want it under a "401k". Something new perhaps, that doesn't allow the employee to borrow from the account but still gives them full control over where to put the money.

[DosEquis]

Taken in stride like this i vote no and would need more information. I believe in fiscal responsibility so i would want to know where the spending cuts go in the budget to cover these tax cuts, which are intended to go for pension funds. I would want specific guarentees that every nickel goes to the pension and does not get touched what so ever.

I would consider a yes if:

Option 1: Say it is a 100 billion tax cut. I would take a % off each item as it is represented in the budget. If defense makes up 25% of the federal budget, 25% of that 100 billion cut is taken off the top of defense to pay for the tax cut. If 15% is healthcare, 15% of the 100 billion comes off healthcare... etc etc.

Option 2: OR in order to come up with this 100 billion... we put the estate tax back the way it was, put the 100 billion tax for pension cut, and if there is a difference remaining cover the difference as listed above in option 1.

Do one of those and guarantee every nickel is to pension funds and you get a yes from me.

[6SpeedTA95]

Originally Posted by DosEquis

Taken in stride like this i vote no and would need more information. I believe in fiscal responsibility so i would want to know where the spending cuts go in the budget to cover these tax cuts, which are intended to go for pension funds. I would want specific guarentees that every nickel goes to the pension and does not get touched what so ever.

I would consider a yes if:

Option 1: Say it is a 100 billion tax cut. I would take a % off each item as it is represented in the budget. If defense makes up 25% of the federal budget, 25% of that 100 billion cut is taken off the top of defense to pay for the tax cut. If 15% is healthcare, 15% of the 100 billion comes off healthcare... etc etc.

Option 2: OR in order to come up with this 100 billion... we put the estate tax back the way it was, put the 100 billion tax for pension cut, and if there is a difference remaining cover the difference as listed above in option 1.

Do one of those and guarantee every nickel is to pension funds and you get a yes from me.

Or how about we cut the fat with that 100 billion dollars

[DosEquis]

Originally Posted by 6SpeedTA95

Or how about we cut the fat with that 100 billion dollars

All of it is fat

[motivez]

I'm just saying your second poll choice is rather pointed

[6SpeedTA95]

Originally Posted by motivez

I'm just saying your second poll choice is rather pointed

Yeah it is, I was in a helluva hurry when I made this thread

[Kytro]

I agree with cutting tax as I the goverment is irresponsible with money.

At least in some of the high taxing nations in europe, they actaully do something useful with the money

[TheMrs]

Originally Posted by WickedLou9

The problem with a corporate pension is that the company can go under and your pension goes under with it.

That happened to my husband about six years ago. Totally gone.

There is alot more security in the government then in one single private company.

How exactly do you figure?

It would make more sense to offer firms tax breaks if they offer significant matches on a 401K. At least that way the money is yours to invest.

Significant matches that they ..... do what with? Most companies match up to a certain percentage now to match what the employee himself contributes. So what suggestion are you making, exactly.