No Idea


Actual question:

Does anyone know why the IRS limits the amount you can put into your 401(k) and IRA plans?

Are they afraid everyone will dump everything in there to avoid taxes?

And why is the limit $19k for 401(k) and $6k for IRA every year?

How did they come up with those numbers?

Okay, that was more than one question, but US tax laws are hard to understand.