23% is above the historic levels of taxation over the last 20 years..... Can you say tax increase?
Currently we put about 50% of what we make away for our retirement. (which isn't that many more years out... bummer). But if I put 50% away and pay 23% on the 50% I spend..... it seems like the effective tax rate is about 11 1/2 percent. And while the 50% I put away makes more money I only pay taxes on what I spend of it.
The plan makes a lot of sense for my particular position.