Random Thoughts: Choice, Ranch, and Huckabee

Posted on January 30, 2014 9:00 am

So why is the contribution limit three times higher for a 401k than a personal IRA?

So can we go back to ignoring Obama now?

Don’t ever talk to me about “choice” if you want to forcefully take my tax dollars to pay for abortion.

If people like abortion so much, why not start an abortion charity? Isn’t that the freedom solution to this sort of thing?

There are no factory tours of where they make ranch dressing because then they’d have to reveal the location of their valley.

If Huckabee is GOP’s 2016 nominee, going to start putting my rocket together to escape here and make ultra-libertarian colony on the moon.

1st rule of Jimmy 2-Times club: Don’t talk about Jimmy 2-Times club. 1st rule of Jimmy 2-Times club: Don’t talk about Jimmy 2-Times club. 2nd rule of Jimmy 2-Times club: Don’t talk about Jimmy 2-Times club. 2nd rule of Jimmy 2-Times club…

Wife gets annoyed when I grab the baby and yell, “GET OVER HERE!” even though it’s a pitch-perfect Scorpion imitation.

GOP leadership and amnesty remind me of a dog and the kitchen trash. No matter how many chidings, as soon as your back is turned…

We aren’t going to advance any more on racial issues until race-baiters are shunned the same as KKK members.

Yay! There’s some shame now on race-baiting!

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5 Responses to “Random Thoughts: Choice, Ranch, and Huckabee”

  1. Oppo says:

    Cheerios: “Let’s cast this commercial based on skin color!”
    MSNBC: “Oh, boy, will rightwingers freak out over the skin colors in this commercial!”
    Rightwingers: “That kid sure made a mess with those Cheerios. Wonder who’s going to clean it up?”
    MSNBC: “We retract our earlier attack; we in no way meant it.”
    Cheerios: “But out of curiosity, what was the skin color of those rightwingers?

    .

    Part of Your Complete Barackfest.

  2. petetheelder says:

    The short answer for the IRA question is that IRAs are supposed to supplement your 401k or other employer based retirement plan. The government doesn’t want people with high incomes to be able to shelter all their investments into retirement accounts so it puts limits on how much of your income.

    There are some non standard IRAs with higher limits. For instance self employed people can put a lot more into a SEP IRA, potentially up to $52,000 or 25% of compensation, whichever is lower.

    And the IRS doesn’t put any limit on how much you can contribute to an annuity so if you have a whole lot of money you can consider those, but for most people they are not worth it.

  3. Iowa Jim says:

    @2 – Good job of explaining! I’d add only that a 401(k) plan is, strictly speaking, a profit-sharing plan (probably for historical reasons), and that might be a reason for the higher limit.

  4. CrabbyOldBat says:

    Don’t ever talk to me about “choice” if you want to forcefully take my tax dollars to pay for abortion.

    Ah, but the fundamental premise of abortion is that one should not have to pay for one’s choices. The shredded fetus takes the brunt of it, of course, but if the cost can be shifted as well, that just makes all those poor choices go away perfectly, no? Do over! (By the way, this needs to be a bumper sticker.)

  5. petetheelder says:

    From what I understand about 401 (k)s is that originally they were originally an obscure tax break made int he late 70′s for people who deferred income to a later year. Almost no one normally did that.

    Someone figured out this would be a good way for most regular employees to avoid taxes on long term investments (which is good for funding their retirement) even though that is not at all how the tax break was originally intended.

    It became popular fairly quickly after that and politicians built on that, but IRAs had only been around for a couple of years before 401 (k)s.

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