The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
Caption Contest: Enter Today!
Due: July 29, 2008
The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
A WILLisms.com(ic), by Ken McCracken
July 14, 2006
Powered by Movable Type 3.17
Site Design by Sekimori
WILLisms.com June 2008 Book of the Month (certified classy):
The WILLisms.com Gift Shop:
This Week's Carnival of Revolutions:
Carnival Home Base:
Trivia Tidbit Of The Day: Part 131 -- America's National Savings Rate.
Rate of Savings, United States-
There are a variety of reasons for this phenomenon. And a variety of ramifications. Without going into all of them, there is one overriding conclusion we can draw from America's abysmal rate of savings:
Personal Savings Accounts, as part of a comprehensive Social Security reform package, are crucial to the long-term health of our economy.
The major attraction of personal or private accounts is that they can be constructed to be truly segregated from the unified budget and, therefore, are more likely to induce the federal government to take those actions that would reduce public dissaving and raise national saving.
Want to boost the national rate of saving?
Reform Social Security.
Previous Trivia Tidbit: Job Growth.
Posted by Will Franklin · 7 August 2005 11:35 AM
Maybe this is obvious, but it's also true that the reason savings is so low is that many Americans are assuming that Social Security will be around to provide help after retirement. So why not spend now?
It's going to be a shocker when those benefits disappear.
Posted by: Eric Lindholm at August 7, 2005 01:22 PM
Most forms of saving are a bad idea. Certainly CDs, money market, and savings bonds are. The return is negative after inflation and tax.
If you want to boost savings then exempt the first $5000 of interest from taxes. Boost it to $10000 at age 40 and $20000 at age 50. Exempt half the tax on savings bonds held 10 years and all of it on those held 20 years.
Right now capital gains and dividends are taxed at a lower rate than interest. And selling your home is not taxed at all. So why accumulate traditional savings?
Notice that these are very easy proposals to implement and audit.
Posted by: K at August 7, 2005 03:04 PM