Publication Date: February 2009
Publisher: Tax Policy Center
Author(s): Rudolph G. Penner
Research Area: Banking and finance
Keywords: Economic Well-being; Tax Policy; Elderly; Fiscal future
The article considers special federal tax provisions affecting the elderly. It examines the taxation of Social Security, private retirement accounts, estate taxation and other provisions of the law that mention age. It also analyzes how the elderly might be affected by tax increases necessitated by the dismal long-run budget outlook. In particular, it looks at the possibility that we shall become more reliant on consumption taxes.
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