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March 17, 2005

Comments

Fargus

I feel like there ought to be some way, though, first, to try to encourage people with lower incomes to save, before all incentives are abolished. But if nothing can be done, then I agree, it's just helping to save money for people who don't need help.

Kender

If we switch to a tax such as that promoted at fairtax.org saving will increase dramatically.

When you would only be taxed on what you spend the incentive to save is greater.

Or at least that is what I think.

Bubblehead

Screw taxes, screw Incentives, just give me my money and keep those damn lefty hands off it! I don't care what happens to the lower income people who forget to save, I care about taking care of my family in the future. If everybody worried about themselves we could get over this whole "it's takes a village" communist BS.

Kender

Roll on Bubblehead.....damn straight.

SheaNC

Ha Ha It's a hoot the way these guys reinforce the most extreme right-wing stereotypes. Abigail, you've done a great job of rounding them up :)

Chief

One of the problems of lower income people is that they don't have any money left after paying for the basics to save. I don't understand Bubbleheads rationale of how my putting 10% on MY money, (MY salary) in an IRA (401-K) has any thing to do with "lefty hands." Maybe we need to raise the minimum wage so a person who works at a full time job gets a living wage.

J6Pk

I can't believe it! Now the libs want to tax the few dollars I've worked my fingers to the bone to save! And all because some people don't save? How's that going to help them?
I am sorry, but few people in this country really cannot afford to save a portion of their incomes. But we all must have our cars and beer and cigarettes and TV's, so we all go into debt and become slaves to their jobs

Luke Lea

Actually, for purposes of social justice and economic growth, a tax incentive for savings makes sense. But only if you progressively tax quite steeply the part of income that is consumed. Right now we have countless centi-millionaires competing with each other for status by flaunting multiple mansions, private jets, yachts, and the like. With a progressive consumption tax they could make the same "statment" in a much more modest way, with a simple Mercedes Benz, say, and invest the difference in plant and machinery, which produce income and things for ordinary people. See The Expenditure Tax by a Cambridge University economist whose name escapes me for the general theory. Or refer to the Progressive Consumption Tax plank on the Born-Again Democrat platform.

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