Obama’s Odd myRA Proposal

Featuring Jagadeesh Gokhale

The President’s myRA proposal aimed at helping low‐​income Americans save for retirement seems to have missed a key element of helping low‐​income people save more: the tax break provided by traditional IRAs. The myRA proposal doesn’t provide that break and, says Jagadeesh Gokhale, that makes it an inapt savings vehicle for people with low incomes.