Well, I said I wasn’t going to spend a lot of time on the President’s tax proposals, but I can’t help but follow the discussion on the proposed change in treatment of tax-advantaged savings accounts. The change would be that earnings on future deposits in those accounts would not be exempt from tax as they are now, but instead would be taxed upon withdrawal.
The suggestion has been roundly dissed, and not just by the commentators you would expect to be critical of a tax increase.
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