Originally Posted by La literatura
401k is a government created tax-deferred retirement plan.
If we had a consumption tax would you be worshipping government because all savings were government created tax-deferred plans? Or do you only give government this kind of praise when it establishes a baseline of taxation and then carves out a limited tax deferred savings program from that baseline?
"Well, it is one thing for Bill Clinton to say, I feel your pain. It is another thing for Barack Obama to say I feel your pain that I have caused." - George Will