Tax Reform I: Expand the IRA

As Congress turns its attention to tax reform, one desirable change would be to expand the availability of IRA accounts to more taxpayers, with higher limits, and for purposes other than retirement. I’ll follow up with more tax reform recommendations in later posts, and apologize for making my first suggestion a somewhat technical one.
Current tax law places a double tax on saving, unless the saving takes place within certain specifically created accounts, like IRAs, 401(k)s, 403(b)s, and other plans offered by (some) employers. The reason most saving is double-taxed is that saving comes out of income that is subject to

Read more at The Independent Institute