Increase the IRA Advantage


 

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.