[madameguinot]

Don’t get excited yet. A friend said he included a cap on IRA contributions. Anyone else see that?

[SuzyQueIN]

Yep and there's more. An exerpt:

"The CBO also notes, however - and the White House omits - that a switch to the chained CPI will also raise more than $124 billion in new tax revenues.

"The money will come pouring in because the consumer price index also controls income tax brackets, tax filers' standard deductions, nontaxable contribution limits for 401(k) retirement plans, and more.

"So millions of individual Americans will see themselves moved involuntarily to higher tax brackets, and middle-class taxpayers in particular will lose some of the tax credits and deductions that they count on."

And you can read all about it here:

http://www.dailymail.co.uk/news/article-2306688/Obama-2014-budget-analysis-Numbers-based-imagined-spending-cuts-middle-class-tax-hike.html