Welfare for the Rich

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	Welfare for the Rich

baydawg

9-22-2009 9:30 PM

43 views

tags:

welfare for the rich, retirement, savings

baydawg says:

retirement savings accounts

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/465cbda9-9786-43b3-b7a9-3d37bcda532d/1B946CB3-7BF2-4C51-B942-EDE7FDFE67FC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://thecynicaleconomist.com/?p=7857" href="http://thecynicaleconomist.com/?p=7857" style="font-size: 11px;">thecynicaleconomist.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thecynicaleconomist.com/?p=7857"><P>The retirement-savings system in the U.S. is “a failed experiment,” said Teresa Ghilarducci, the Bernard Schwartz professor of economics at The New School for Social Research in New York.</p> <P>The U.S. system is “headed for a serious train wreck,” said John Bogle, founder and former chief executive of the Vanguard Group, in testimony to a House committee hearing on retirement security in February.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thecynicaleconomist.com/?p=7857">One of Ghilarducci’s gripes with the current system is that retirement-plan tax breaks go largely to higher-income earners — she’d like to see the government’s largesse spread more equitably. Looking at all types of tax-advantaged retirement plans, people with income above $104,000 enjoy 80% of the tax breaks, according to research co-authored by Toder of the Urban Institute.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/1B946CB3-7BF2-4C51-B942-EDE7FDFE67FC/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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