Lawmakers consider changing tax breaks on retirement savings


The Washington Post has the article Lawmakers consider changing tax breaks on retirement savings.

On Tuesday, House Ways and Means Committee Chairman Dave Camp (R-Mich.) scheduled a hearing on “tax-favored retirement accounts” that he said was intended to begin “framing the debate” in preparation for tax reform. Aides said Camp also is planning a first-ever examination of about $30 billion worth of expired tax breaks for individuals and corporations that Congress routinely extends, an idea that is also gaining traction in the Senate.

Whenever the Republicans want to frame a debate why is it that they want to smash that frame over the heads of the middle-class?

I may have to coin a new Greenberg’s Law of Closing Tax Loopholes, “When you ask the congress to eliminate tax loopholes, they always give the voters asked for  by eliminating any tax breaks that the those voters might enjoy and leaving the rest of the loopholes alone.”  I think this is their way of teaching us not to ask for closure of tax loopholes, even though they know pretty clearly which loopholes we want closed.  It is not the ones they focus on.

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