taxes

Forget Wealth Redistribution! How About Wealth Building Through the Saver’s Tax Credit?

Tax policy is often viewed as the primary method to encourage efficient financial behaviors among the population at large. Top economists may debate the extent to which taxation should be utilized to support positive economic objectives and reduce harmful ones, but it is generally agreed that tax policy should create some incentives for people to build wealth. In practice, however, current policy concentrates on helping middle and upper-income taxpayers, but real opportunities for low-income taxpayers are limited.