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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (58469)5/4/1999 11:47:00 AM
From: Mike M2  Respond to of 132070
 
Nadine, if you look at it from the perspective of 401ks replacing pensions - which were not included in personal savings rate calculations of the past the numbers are not so skewed IMO. In the past a corporation saved for your retirement pension -now the individual does this. The outsized gains of the stock market have encouraged people to consume more, save less and stampede into debt . This will change when the market bubble bursts. Mike



To: Nadine Carroll who wrote (58469)5/4/1999 5:17:00 PM
From: Knighty Tin  Read Replies (1) | Respond to of 132070
 
Nadine, But you could use savings accounts as IRAs and 401Ks, so it isn't the tax system as much as it is low interest rates paid by banks.


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