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What kind of politicians and policies will of these retired, former professionals vote for? Maybe it will be something like "Tax the idiots stupid enough to sav
by dmm 13y ago
What kind of politicians and policies will of these retired, former professionals vote for? Maybe it will be something like "Tax the idiots stupid enough to save and give it to the newly poor".
- mynewwork 13y agoThis is a serious concern of mine. There already exist countries in Europe which tax savings. It wouldn't shock me if after 40 years of living below my means and saving diligently, that an act of congress makes my IRA/401k be taxed at a higher rate to give money to my non-saving contemporaries. I'm sure there are some on the far-left that could rationalize redistributing savings accounts.
- gaius 13y agoAlready happening. In 1997, then-chancellor Gordon Brown raided the private pension funds. Seeking an alternate asset class to save for retirement, the middle classes piled into property causing a bubble. It will take decades to undo this mans legacy.