One of the proposals that has received attention in Washington talking head discussions about how a compromise might be reached between Democrats and Republicans on the fiscal cliff and federal budget is one that argues for cutting back or eliminating the tax break the 401(k) deduction.

FORBES: Barack Obama And The Federal Government Are Not Taking Your 401(k)

Since 1997, employer-sponsored health care has exceeded the mortgage-interest deduction as Uncle Sam's most costly tax break, according to estimates by Congress's Joint Committee on Taxation.

WSJ: Tax Report: Is Taxing Health Plans Next?

For many people, the health-plan tax break is more valuable than the highly popular mortgage-interest deduction on Schedule A, says Kelly Davis, an employee-benefits specialist at accounting firm CliftonLarsonAllen.

WSJ: Tax Report: Is Taxing Health Plans Next?