by Allan Sloan • The Washington Post
You can’t keep a bad idea down. That’s my reaction to a terrible proposal in President Obama’s budget — limiting how much money can be set aside on your behalf in 401(k)s, pensions and other tax-favored retirement accounts.
The idea, of course, is to limit retirement-related tax breaks for “the rich.” The Treasury wants to limit the value of pensions and retirement accounts to about $3.4 million for a married couple, and something less than that (it doesn’t say how much) for single people. [Read more...]