Quote:
Originally Posted by Robbie
Are you saying that kids TODAY in 2013 are going to be poorer when they retire? Well of course they will! The govt. is going to tax the hell out anybody who becomes successful. That's what the President pretty plainly has said and won an election running on.
So just by the fact that it's going to be harder and harder to accumulate wealth...and IF you do the govt. is going to tax it hard and stop you from building it up...well, how COULD the next generation ever reach the heights of the current one?
Makes perfect sense to me, and has nothing to do with trickle down economics.
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I like this post a lot, and I agree 100%.
Higher taxes + paired with low interest rates, basically help take the American dream away. That's money that can be saved. The higher your taxes, the harder it is to accumulate wealth.
People say "oh, its only 2%, oh its only 4%!" - think about this in terms of replicating a financial investment. 2-4% + per year in extra savings, then invested at a risk free rate (which by the way is being kept artificially low by the gov't), over time, thats a lot of missed $.
So today, everyone is basically getting taxed higher. And also, interest rates are so low, you can no longer go to the bank for a decent risk-free return.
Yes, its simple math that its going to be harder for the next generation to save and build up their wealth. Our parents were able to buy more affordable homes, go to the bank and get a different interest rate, etc.
Some of it is the president / governments fault, and a lot of it is simply more people vying for the same resources, plus the dynamics of our population changing. The government sure isn't making it any easier though.
