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Publication Date: August 1983
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Peter G. Germanis
Research Area: Banking and finance
Keywords: Taxes
Type: Report
Abstract:
Tax deductible IRAs already are a popular and powerful inducement to Americans to save for their retirement and they take considerable pressure off the ailing Social Security system. Congress should respond to these features of this new savings instrument by expanding and modifying the tax code where it deals with IRAs, and thereby move toward the creation of a comprehensive private retirement income system.