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|Subject: Re: Is your 401(k) Inadequate For Retirement||Date: 8/2/2008 9:24 PM|
|Author: putnid||Number: 13773 of 19371|
If you want money invested shrewdly in way that will build up business investment, rebates to the general population aren't going to accomplish much. Providing low tax rates for those who already make such decisions, by taxing capital gains lightly (for example) may be a highly effective way of accomplishing that purpose.
Ah, yes, the "Hey, the RICH are the only ones capable of deploying capital well!" argument.
Soooo...how'd all the sub-prime mortgage lending, re-packaging, re-selling thing work out? After all, it WAS engineered by Wall Street's best and brightest. The mortgage lenders were in on it, the big investment houses were in on it, the hedgies were in on it, the rating companies were in on it, the bond insurance companies were in on it...just about anyone and everyone making millions of dollars per year for their supposed financial acumen were in on it.
Tell me, again, how well that worked out for the average working stiff...the American taxpayer...who is now bailing all these clowns out?
Oh, yes, lest I forget: the massive taxpayer-funded bailout of our financial industry included sundry provisions such as a neat little tax break for the private equity buyers who bought Chrysler. SWEEEEET! Now the taxpayer is bailing out the big "private equity" dogs...those marvels of financial acumen.
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