How The Tax Code and Inflation Discourage Savings

There is part of the U.S. tax code that has always annoyed me. 

 

I recommend reading Henry Blodget's explanation of how inflation and the U.S. tax code discourage savings at Slate.com.  I couldn't agree more.  However, if you put your money in an IRA you don't pay that inflation tax.  See my pleading to friends to max out funding in their IRAs.