I should add that another term for a tax-free universal savings account is . . . a consumption tax. Making IRAs completely free of restrictions on how much can be deposited and when withdrawals can take place converts the individual income tax into a consumption tax.
On Wed, Feb 25, 2009 at 6:19 AM, Max B. Sawicky <[email protected]> wrote: > A tax-free universal savings account is an IRA. To me this sounded > like an allusion to the sort of plan Teresa Ghilarducci has put > together. An add-on to SS, not a substitution. This would not > preclude some change in SS. > > http://www.sharedprosperity.org/bp204.html > > > > > > -----Original Message----- > From: [email protected] > [mailto:[email protected]] On Behalf Of Gar Lipow > Sent: Wednesday, February 25, 2009 12:27 AM > To: Progressive Economists List > Subject: [Pen-l] Obama going after full privatization of Social > Security > > >From his speech: >>To preserve our long-term fiscal health, we must also address the > growing costs in Medicare and Social Security. Comprehensive health > care reform is the best way to strengthen Medicare for years to come. > And we must also begin a conversation on how to do the same for Social > Security, while creating tax-free universal savings accounts for all > Americans > > http://www.huffingtonpost.com/2009/02/24/obama-speech-tonight-vide_n_1 > 69671.html > > No matter how bad you expect them to be they are always worse. I > always assumed he'd try for a small cut in benefits. But this looks > like he is going for full privatization. Anyone have a differing > interpretation? > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
