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Promoting Retirement Savings
The Bush Plan vs. A Better Way
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Bernard Wasow,
The Century Foundation,
2/6/2004
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The Bush administration’s proposals to restructure tax breaks for private saving, which are included in the 2005 budget plan, tackle a problem that desperately needs to be fixed. Today’s tax code is riddled with overlapping, complicated savings incentives that badly require simplification. Low- and middle-income families who are most likely to find themselves short of funds in retirement receive the least help from the current jumble of tax breaks. Unfortunately, the administration appears to be using the legitimate need for reforms as a subterfuge for pursuing a policy that will drain the federal treasury, transfer money to the rich, and leave the fundamental problems— perverse retirement saving incentives, the system’s complexity, and its cost to the Treasury—unsolved.
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Download in PDF format
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Edition: Online
Pages: 7
Price: Free
Ordering Information:
The Century Foundation
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