What’s the point of saving?

[rogpodge]

https://nypost.com/2021/04/22/biden-eyes-capital-gains-hike-to-43-4-for-ny-could-be-52-2/

Tax income when earned.  If you save it by investing in the stock market, you will get taxed on capital gains.  Then if you throw a wealth tax on top of that, what’s the point of saving at all?

The government is literally forcing Americans (who already save at very low levels, despite having higher incomes) to rely on Social Security, a program with less than a 2% return.  That is basically like not having savings at all (provided it’s still solvent).  I get it, there’s going to be means testing / income limits.  But the whole point of getting people to invest early is so that the investments build value over time, and given how inflation is right now, $1M in capital gains might not be that much in a decade.

I very much support efforts to get people to invest and save / improve financial literacy.  Yet our government seems determined to discourage saving.

[rjnwmill]

No time for financial literacy when students can benefit so significantly from time spent on critical race theory.

It even sounds more “academic”.

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Legend]

At some point the real “woke” revolution will be people realizing that drowning in debt and having more than half of income confiscated through taxes, fees, and penalties does not equal freedom.

Biden may be closer to king George III than anybody realizes. Tax, regulate, disarm, disenfranchise.  We hold these truths to be self evident…

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Sic transit gloria mundi (so shut up and get back to work)

[Neodymium60]

[quote quote=4667]No time for financial literacy when students can benefit so significantly from time spent on critical race theory. It even sounds more “academic”.[/quote]

That’s pretty funny.

More stimmi checks and lockdowns on the horizon. Rates will go up which is a measure of blood loss.  Forget about savings because the gov’t has your back.

But things could be worse.  You could be hurtling through space on one of Elon Musk’s driverless contraptions.  Good thing there are no trees or telephone poles up there..

[ichiban]

I always feel poorer this time of year??

[johnnyo53]

Some hilarious posts Bob and Legend. We are so phucked.

“I remember that one fateful day when Coach took me aside. I knew what was coming. "You don't have to tell me," I said. "I'm off the team, aren't I?" "Well," said Coach, "you never were really ON the team. You made that uniform you're wearing out of rags and towels, and your helmet is a toy space helmet. You show up at practice and then either steal the ball and make us chase you to get it back, or you try to tackle people at inappropriate times." It was all true what he was saying. And yet, I

[Author]

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