Quote:
Originally posted by onetime2
So, shall we cut back on productivity gains to make the recovery more similar to other more recent ones? Because that's what is keeping employment from growing, it's not because all the jobs are in India as this idiot seems to think.
Families are encouraged to save money for retirement so they don't have to rely solely on social security and then when they cash in those investments (or they die) the government takes a nice big chunk of it. Yeah, that's sound reasoning. The policies say that SPENDING powers the economy not investment. Investment is a savings tool that allows people to spend.
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First you start out with an ad hominem attack, then you mischaracterize the estate and capital gains tax. Bravo.
Most families save through tax-deferred savings plans, so when they 'cash out' the government is taking a chunk of it, yes. And when they die, they are taxed on a percentage of their estate if it is worth a ridiculous amount of money (and that no longer makes them most families, or even 'a lot' of families - more like 'tiny minority' of families), yes.
The policies may say that spending powers the economy, and that will eventually trickle down into benefits to the consumer, but the average consumer isn't seeing it. Like the author said, the fourth quarter '03 saw real wages
drop 0.7 percent.