Effects of 401k on taxes

[coolbreaker]

any of you have had their taxes lowered considerably by contributing towards a 401k plan?

it says here http://www.research401k.com/401k-taxes.html "Your current taxable income is lowered. For example, if you earn $10,000 per month, and contribute 10% of it towards a 401k retirement savings account, then your current taxable income is lowered to 90% x $10,000 = $9000. Instead of paying taxes on the $10,000, you will be paying taxes only on the $9000"

does using this technique get you more current income and really lower your taxes?

[CATCHMEIFYOUCAN]

It definitely affects your taxes to some degree, depending on how much you contribute before tax

catchmeifyoucan

[debtisbad]

Here is what is scary (I learned this from Suze Orman). Currently, our taxes are not that high. Now, looking out toward the future, we (the USA) have accumulated massive debt. Someday, that debt will have to be repaid. How will that be done? Well, if I am looking for additional revenue and I am in office, I am going to give a hard look at these 401k's. All the baby boomers are going to start cashing them in a few years. The roth ira is a different beast. Its taxes are already paid. Therefore it can never be taxed (supposedly). It, the roth, can be passed to the next generation without inheritance taxes. The 401k cannot after it reaches the maximum amount, which is high in today's dollars, but 30 years from now may not be that high. Correct me if I am wrong, but I do not think it is adjusted for inflation. So the real deal is actually the roth. Just my .02