As a leading-edge member of the baby boom generation, who is looking at mandatory withdrawals next year at 70½ years old, I think the government has forgotten about this income.
This year and for the next 30 years people will be contributing at least 4 percent of their savings to their taxable income and be taxed on it. As a leading-edge baby boomer, I will be increasing my income every year, as I will be required to take increasing amounts from my, IRA and 401k each year. Everyone behind me will be doing the same. This money will go to funding the deficit reduction, or funding new programs.