semantic distinction that he s making between spending in the tax code and spending outside of the tax code. tax economists don t make this distinction at all. if you give someone a tax break, the tax economist believes that s spending. the treasury department counts that as spending. paul ryan don t say that s spending. they only say it s spending when we write a check to somebody, right? so what he failed to do and what he s been promising to do for five years now is get rid of all the tax spending in the tax code, all of these special deductions, and then use that to lower the rate. that is precisely what we did not do with this bill. so when he talks about spending, remember, he s very closely defining the word spending. but let me go back to something that megan murphy said about 401(k)s. i want to add to that. in addition to the fact that very few in america, about half of americans even have access to some sort of pension or 401(k), all fund managers talking about the kinds of