On Wed, Feb 25, 2009 at 5:57 AM, Max Sawicky <[email protected]> wrote:
> 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.
>
>
Does "universal" mean "completely free of restrictions". I assumed
it meant "for everyone" which would require some sort of subsidy. And
in the context of "Fixing" social security (and the assumption that
social security needs "fixing" is there" ) raiding social security
seems the obvious place to get that funding.
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