The New School’s Schwartz Center for Economic Policy Analysis (SCEPA) has released new analysis of retirement savings in the United States and their relationship to the proposed 2017 GOP tax plan.
According to SCEPA, the current system of retirement tax breaks are “are highly regressive, giving 66% of the benefits to those in the top 20% of the income distribution – who are likely to save without incentives – while the 35% of near-retirees without retirement plans get nothing.” The Center also reported that the proposed tax plan would do nothing to solve this issue and would, in fact, likely worsen it.
