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My technical background instructs me that when faced with a seemingly intractable problem or unexplainable outcomes - we’re asking the wrong questions. Capital
by dpweb 7y ago
My technical background instructs me that when faced with a seemingly intractable problem or unexplainable outcomes - we’re asking the wrong questions.
Capitalism is essentially our new religion. Suddenly responsible for curing all ills, but it’s simply an economic model.
It necessitates people be productive, but it also inherently directs income from the poorer to the richer. We in the western world redistribute trillions in taxes for social welfare to attempt to offset its natural effects.
As far as creating our utopia, it doesn’t help that political solutions designed to help the middle and lower income classes actually can have the opposite effect.
Does making 401k contributions tax deductible, when big banks take a fee on all such deposits, help the middle class save, or does it just more direct tax dollars into corporate profits.
- sologoub 7y ago401k by itself is a great idea. Making it optional, not requiring employer match and allowing fees to run rampant - not such great ideas. Vanguard is a great example of a low fee fund manager. Many good companies provide strong match and help secure the future of their workforce. But the problem is that these are all optional in the spirit of personal choice and empowerment. Problem is, to most people these are disempowering because the compulsion to spend is too high. If all make a little less take home, but their retirement accounts are filled like the IRS coffers, overall prices decline because of less disposable income, but in the end, people get to retire. For those that unfortunately doesn’t make it to retirement, it would be good if the accumulated wealth could be inherited and/or donated.