“Policymakers have recognized for a long time that saving for retirement is an important objective for everybody. But they’ve adopted policies that pretty much only give an incentive to do that, a tax incentive, if you’re really rich. And the reason is that what you can do is you can shelter your income from taxes this year by putting your money in an IRA. But that benefit basically depends on how much tax you save if you put the money in the IRA.”

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