Bush Savings Accounts- Theft from Future

The Urban Institute-Brookings Tax Policy Center examined the proposal in last year’s budget and found it would grow sharply in cost over time, with the revenue loss ultimately reaching the equivalent of more than $50 billion a year. Over the next 75 years, the cost of the proposal would be equal to half of the long-term Social Security deficit.

If they operate like Roth IRAs, and can be inherited by children, they will create a whole feudal class of rich people existing tax-free, even as workers income will inevitably have to be taxed more to make up the difference.

el - These savings accounts and their earnings are never taxed, unlike workers who pay income tax, FICA, and state taxes on their earnings.