Most of the people still don't have any idea about the retirement plan.And advantages of it.
Harry Swiftof LA3:30AM November 16, 2009
1) Fixed-income IRA's (bonds and CDs) are no fun when the government is printing so much money that interest rates are held artificially low (for years and years).
2) Having the wealthiest few people in the country (who own most of the stocks) selling their stocks to the new small savers (at prices inflated by the new money from the new savers going into the market) is no fun when that capital gains taxes on the sellers that SHOULD be collected to reduce the deficit are not collected because the rates are held too low.
3) The paradox of thrift is that every dollar sent to an IRA is a dollar not spent in the American economy that is said to run about 70% on consumer spending.
So, first raise the interest rates paid to bank depositors and on bonds. Then raise the capital gains taxes. THEN put everybody in that automatic IRA.
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Harry Swift of LA 3:30AM November 16, 2009
Muser of NM 1:33PM September 25, 2009