What If We Ended 401(k) Tax Breaks to Save Social Security?

Research February 05, 2024 at 04:00 PM
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What You Need To Know

  • The bulk of retirement account tax breaks benefit the affluent, Andrew Biggs and Alicia Munnell argued in a recent paper.
  • Research shows that tax-preferred retirement accounts don't boost overall household savings, they write.
  • Another group of researchers argues the plan would amount to double taxation and would ultimately make the Social Security program less stable.