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?
“[Cruz] might not be the most fun to have a drink at the bar with, but America needs a designated driver.” - Mica Mosbacher, wife of the late Robert Mosbacher, Secretary of Commerce