"According to the [JCT], the tax advantages for DBs, DCs and IRAs will cost the federal government $371 billion this year. There is no similar tally for state tax breaks, but including those would likely bring the total bill close to half a trillion dollars. Given these tremendous expenses, it is initially hard to understand why people who seem so worried about the costs of old-age benefits choose to focus solely on Social Security. But it becomes easier to understand once you realize who benefits the most from the various parts of the old-age system."

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