Wednesday, February 21, 2007
More tax breaks for the wealthy...
As I was reading my latest issue of Newsweek I discovered yet another way our government tends to favor the rich over the poor. Apparently in recent years the tax breaks offered for retirement savings plans have been greatly increased, and the more you earn, the bigger the government subsidy. The lower your earnings, the less the government helps.
Apparently the government thinks that rich people need more incentive to put a little something away for retirement - I mean we wouldn't want any older millionaires to be forced to downsize to a small mansion because they forgot to prepare for the future. I guess they also figure that the rest of us low-income, working-class folk don't need those kind of tax breaks since we probably don't have enough money to save for retirement anyway.
Why am I not surprised?
Apparently the government thinks that rich people need more incentive to put a little something away for retirement - I mean we wouldn't want any older millionaires to be forced to downsize to a small mansion because they forgot to prepare for the future. I guess they also figure that the rest of us low-income, working-class folk don't need those kind of tax breaks since we probably don't have enough money to save for retirement anyway.
Why am I not surprised?
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