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{{We are back to your perception, rather than what he said}}

Yes, because I based my perception on listening to the speech. In listening to the speech, I got the impression that Daschle made his comparison with regards to retirement. I thought that specifically it was in response to Bush' proposal to create individual wealth accumulating accounts in social security. But Daschle was so general that to me his statement also involved 401k's and IRA's as clearly this retirement vehciles reward wealth accumulation as well.

{{any data to support the idea that those accounts encourage a net increase in savings. Data I seen some time ago, and do not have handy so do not bother asking for citation, suggest that they have minimal impact on total savings but just change the form of savings that would have otherwise been made.}}

I have not seen any such data. All I have is anecdotal evidence about how those rewards encourage me to accumulate wealth. For example, I was recently awarded a fellowship that has teh stipulation that I can not work in any other capacity. Fellowship earnings are not considered "earned income." Because of that I can not contribute to my Roth IRA. My wife is in a medical professional school and studies more than I have ever seen. Yet she is incredably convinced that she has to find a job so that we can have some earned income to place into our Roth IRA. In the two weeks she has been looking for a job, she has already been to multiple interviews. So I would say that the reward of these retirement vehicles is incredably encouraging to us.

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