Do America's retirees need more tax breaks? Some politicians at the state level clearly think so.
According to a report from the Citizens for Tax Justice, a non-profit that lobbies for tax policy on behalf of middle and lower-income Americans, plans are in the works in five states that would dramatically lower retirees' tax exposure.
Americans age 65 and older suffer a lower rate of poverty than any other age demographic in the country, according to 2013 census data published last fall. Whether the same will be true 10 years from now, as more baby boomers retire with questionable levels of savings, remains to be seen.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
