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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (219566)	2/18/2005 5:10:43 AM
From: Amy J	Read Replies (2) of 1575764

Tenchusatsu, you'll like this one. Greenspan thinks a declining savings rate is okay: Message 21059168 Greenspan: "the decline in saving...have spurred rising household wealth and allowed greater access to that wealth....cash realized from capital gains has the same spending power as cash from any other source." Basically he's saying, the decline in savings has increased household wealth so your house can be an ATM machine. Greenspan: "The sizable gains in consumer spending of recent years have been accompanied by a drop in the personal saving rate to an average of only 1 percent over 2004--a very low figure relative to the nearly 7 percent rate averaged over the previous three decades." Meanwhile, he would like to increase your payroll tax because the boomers aren't saving for their retirement: Message 21058750 "Bush earlier this week signaled he was open to hiking the indexed cap, which is currently at $90,000" Congress prefers to increase taxes than increase savings. With only a 1% savings rate, you'd think someone would realize that's the problem this country has. Regards, Amy J

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