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this post was submitted on 31 Aug 2023
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You do realize that 401k and HSA accounts are voluntary tax shelters for specific saving/spending purposes, right? Nobody is "getting raped" by these; they are a way for people to save a portion of their wages for a specific purpose without having to pay income tax on it (for HSA) or deferring its taxation until it's withdrawn after retirement age (with 401k). And 401k plans are commonly matched by employers, meaning that you get money for free by saving some of yours.
Some companies have mandatory 401k deductions whether you request it or not.
Ashley Furniture (sue me if you care)
Granted, it is technically a 401k and accumulates but they don't pay any towards it so I don't give a fuck, give it to me so I can invest it myself.
Funny... funny guy.
No, some companies are opt-out instead of opt-in, meaning that you will contribute to a 401k by default, but you always have the option to change your contribution to zero. And yes, employers commonly match 401k contributions.
Even if they don't, the tax benefits of using a 401k makes them outweigh any private retirement investments you would make, with the exception of a traditional IRA.
They could just not tax the things that are eligible for HSA in the first place.
They could do single payer so everyone gets coverage at a lower tax rate than they currently pay for insurance.
They could fund social security based on a percentage of all income instead of having a cap around 100k.
They could get rid of all the tax breaks for the wealthy so the tax burden wouldn't need to be so hard on the median and lower income earners.
HSA are putting the blame on the person for being sick and 401k exists to both pump some mo ey into the system to inflate stocks and to get the regular person to care about the stock market. Both are just there to screw over the public for the benefit of the wealthy so we don't nationalize healthcare and properly fund social security.