The government doesn’t limit how much you can save. It DOES limit how much you can shield from income tax. That’s a separate question.
Personally, I think that we should tax consumption rather than income. That would make savings tax deferred until the saver takes money out and spends it. Always liked Pete Domenini’s consumed income tax. Too bad it never got traction on the Hill.
“Personally, I think that we should tax consumption rather than income. “
I see the G’ment as THE PROBLEM. Too Big, Too Intrusive Too much of the DICTATOR. - And it makes no difference if it is a Democrat or a Republican in charge.
Nixon gave us the Dept. of Education
Bush increased the Fed. G’met with No Child Left behind
Most of the Federal Departments NEED to be ELIMINATED and the scum who work there need to be enjoying putting their Kids to bed at night because they cannot get a Job.