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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (42989)	3/3/2001 5:10:02 PM
From: Katherine Derbyshire	Read Replies (3) \| Respond to of 70976

>>There are many middle class people making decent incomes, yet are unable to save any money whatsoever. << Unable? Or unwilling? Consider the sales of SUVs, cell phones, DVD players, trips to Disney World, etc. None of these are exactly survival necessities, but plenty of middle class people seem to be able to scrape together enough money (or debt) to pay for them. Now compare the number of people who make the maximum contributions to their 401K and/or IRA plans, both of which are significantly tax-advantaged. I have a hard time believing that a tax cut that even its supporters claim is intended to stimulate consumer spending is going to do much for the savings rate. Katherine

To: Proud_Infidel who wrote (42989)	3/3/2001 11:03:54 PM
From: michael97123	Read Replies (1) \| Respond to of 70976

Brian, I believe that 401k and IRA's are not counted as savings. I am not sure but if I am right isnt that wrong? It seems to me failure to count this money screws up the stats. Mike