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No. of Recommendations: 11
http://business.time.com/2012/11/28/fiscal-cliff-why-congres...

Eliminating the deduction for retirement savings would hit the well-off disproportionately, a condition with a lot of appeal in the current political climate.

Translation: Anything that hoses 'the rich' is a.w.e.s.o.m.e.

So hold on to your wallet. Congress has many options when it comes to tapping this vast reservoir. It could eliminate the deduction altogether or just for top earners, further restrict the amount that is deductible (currently $17,500; for those over 50, $23,000), start taxing retirement savings growth, or take back the part that has grown tax-free.

Translation: The only promises that matter are the ones we make to bundlers and unions. If you're not in one of those groups, we can take your property and you can shove it.
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