Originally Posted by patteeu
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?
If we had a consumption tax, I would be criticizing the government for allowing such a travesty and injustice onto the American people. Fortunately, we don't.
My statement wasn't a "kind of praise," though the 401k scheme seem fine to me. It was a statement of fact: 401k plans are products of governmental legislation. Asking government to get out of it seems to miss that point.