Friday, February 24, 2006
Interesting article this morning in Bloomberg, Bush's Proposed Health Accounts Offer Tax Benefit for Wealthy, by Ryan Donmoyer:
President George W. Bush's proposal to expand health savings accounts, intended to help contain spiraling medical costs, may prove a tax-free boon for the nation's rich.
Both supporters and opponents of the proposal said the enhanced HSAs offer unprecedented tax advantages and may become more attractive than 401(k)s or Individual Retirement Accounts as a way for the richest and healthiest Americans to build savings.
The proposal would create "the mother of all tax shelters," said Paul Caron, a professor at the University of Cincinnati College of Law.