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To: GST who wrote (123294)	4/9/2001 5:17:21 PM
From: Wayners	Read Replies (3) \| Respond to of 164684

Is our domestic savings rate that low? Maybe it is that low. I'm sure its really low compared a lot of other industrialized nations and that certainly then requires foreign investment to make up the difference in order to keep productivity and GDP growth going. Clearly individuals and families are not incentivized to save instead of consume. Main Street and the Federal Government want us to consume as much as possible. Either individuals and families don't make enough disposable income for a decent standard of living or their standard of living is too high for their own productivity. Some people would argue that we're overtaxed so people do not save just so they can maintain their standard of living. People will say my disposable income is too low for me to save. The company I work for doesn't pay anybody the money they deserve because they only greedily care about the company's bottom line. Others were argue that too many people are simply are living beyond their means. Not only are they living paycheck to paycheck but their racking up a lot of cosumer installment debt in order to finance a standard of living higher than they can actually afford. Its probably a little bit of both. I thought people were doing better saving for retirement but maybe not--probably most people are still relying on social security. One disincentive to saving is not having interest and capital gains indexed for inflation. Why should I put my money in a bank savings account and get taxed on money making 3% a year when inflation is 4% a year?