Tag: tax deduction
I just reviewed a manuscript where once again the authors proposed changing the tax incentive for retirement saving from a deduction to a credit. I used to push this idea myself, but now think it’s a diversion that could increase the revenue loss to the Treasury and would do little to increase saving. Let’s put…
In one significant way, retirement is materially different than it used to be: far more retirees are still trying to pay off their houses. Thirty years ago, just one of every four homeowners in their late 60s to late 70s still had a mortgage – today, nearly half do. Once people hit 80, mortgages used…
