WSJ: Kamala Harris Is Eyeing Your 401(k)

[catfish1957]

https://www.wsj.com/opinion/kamala-harris-is-eyeing-your-401-k-tax-plan-corporate-rate-a4cf247e?st=U6e9q5

<snip>

Kamala Harris keeps changing her tax plan, but her latest proposal is to raise the corporate tax rate to 28%. She would also raise the top capital-gains tax to roughly 32%, the highest since the 1970s.

Extracting money from those big and faceless corporations with profits in the tens of billions of dollars has populist appeal. But the more accurate way to think of the corporate income tax is that it puts Uncle Sam first in line to take a share of all the profits an American corporation earns. Only after the government takes its pound of flesh does anyone else get a return on his money.
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I think everyone pretty much understood at the 30,000 foot level that Harris is toxic to long term equity growth and return.   But even we as investors sometimes forget to realize that in a competitive business market on a global scale,  savage predatory government taxation is not  always costs just passed down to the consumer.  It does excessive damage to US companies trying to compete with the rest of the world.

[GrouchoTex]

No surprise here.
The Dems have talking about doing that since the Obama administration.

[mountaineer]

I assume that would include IRAs. 

[DefiantMassRINO]

My paranoid cynical thinking is that any account is in jeopardy.

Wall Street and DC compete to pillage any under-utilized pools of capital ... like 401K, IRA, savings, checking, etc.

Wall Street wants to extract untapped present value via acquisition or monetization.

DC will just mug you with taxes.

Where, how, and in what form do I attempt to preserve my existing wealth from the covetous sticky fingers of DC and Wall Street?