To maintain this savings incentive the government “spends” $100 billion a year in the form of tax breaks to those who stash money in these kinds of accounts
Last I read, at least 44 billion a year goes to people who pay NO federal income tax---thru the Earned Income Credit.
That 44 billion was in about 2005 or so and may be higher now. And it does not include the refundable Child Tax Credit.
Why is the elimination of the EIC credit never mentioned as a "revenue" avenue?
Oh, that's right, people who actually work and plan for the future are the ones who need to be ripped.