it gets very hypothetical and weird to identify that person... on an aggregate level, I agree with you: now everyone has to max tax-deductible contributions to a 401(k) type structure that invests in index funds, etc + play the housing market with 7x leverage.

The aggregate loss to society by having all the people involved in those extra legal/practical steps I would love for someone to estimate. Like I said, strangely hypothetical and "what would society have looked like" etc