[Pontiac]

Gale cited the Tax Policy Center's estimate that the immediate, direct revenue loss associated with contributions to IRAs and 401(k) plans will exceed $1 trillion over the next decade. Converting current deductions to a tax credit worth 18% of a taxpayer's retirement saving contributions would raise more than $450 billion in revenues over the next decade relative to current law, he says.

There you go. There is what this is really about. The Lefties are all up in arms that IRAs and 401Ks are reducing TAX REVENUE.

OH NO THE PEOPLE ARE SQUIRLING AWAY MONEY AT THE EXPENSE OF TAX REVENUE!!!

WE MUST PUT A STOP TO THIS IMMEDIATELY

[taildragger]

That is what sucks about these socialist twits like Gale, IMHO Govt Revenue is an Oxymoron, their I said it.

IMHO in order to have "Revenue" you have to produce a good or service that is sold of which you are compensated justly for in the Private Sector.

Their is probably some Accounting Professor here in FR that wants to take me to task so come in the water is fine...

IMHO their is no such thing as Government Revenue it is a transfer payment or a tax, stop trying to sugar coat the meadow muffin...

[wintertime]

There you go. There is what this is really about. The Lefties are all up in arms that IRAs and 401Ks are reducing TAX REVENUE.
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Let's call them what they are: Marxists or communists.

Would a Marxist want the middle classes interest in or attached financially in any way to capitalism? No! Of course not!

If the middle classes have their retirement invested in the private market then they will vote for legislators who will protect that eeeeevil and capitalistic free market.