Proposal for Tax Free Savings Accounts
One of the most significant proposals affecting ER is Bush's plan for consolidating and expanding tax free savings accounts. This is a great idea, is long overdue, and will help people save for ER.
It never made sense to me that people working at a company who sponsored a 401K could save $10K+ plus tax free, and others could only save $2k. I don't think these plans should be limited to who somone works for (similar w/ health insurance).
Anyone know what happened with this proposal? Does it have a chance? Are there organizations that are lobbying for it? My guess is that the financial industry is against simplification.