Lipstick, Light Beer, and Backloaded Savings Accounts

Authors

Karen C. Burke, University of Florida Levin College of LawFollow
Grayson M.P. McCouch, University of Florida Levin College of LawFollow

Document Type

Article

Publication Date

Spring 2006

Abstract

The article addresses current proposals for expanding tax-preferred individual savings accounts and their implications for retirement security and tax policy. The authors argue that the yield-exempt approach embraced by the Bush Administration in its proposals is likely to generate enormous long-term revenue losses, exacerbate inequalities in income and wealth, and erode broad-based coverage under employer-sponsored retirement plans. In addition to these fiscal and distributional concerns, they conclude that the proposals pose a serious obstacle to fundamental tax reform.

Recommended Citation

Karen C. Burke & Grayson M.P. McCouch, Lipstick, Light Beer, and Backloaded Savings Accounts, 25 Va. Tax Rev. 1101 (2006), available at http://scholarship.law.ufl.edu/facultypub/558