47 Percent of Americans Can't Save Money at the Daily Beast

47 Percent of Americans Can't Save Money at the Daily Beast

By Michael Maiello on Wed, 04/15/2015 - 11:59am |

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http://www.thedailybeast.com/articles/2015/04/14/47-of-americans-can-t-save-any-money.html

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I read that. Good read. Even if we do save it is usually just small amounts. Then later used for something important.

by trkingmomoe on Wed, 04/15/2015 - 1:20pm

While we don't know with certainty that the two 47 percent populations overlap, it makes sense that those who cannot pay federal income taxes also do not have a lot of money left over for saving. This would also be proof that the progressive tax system, as designed, somewhat resembles reality—and it would even suggest that the system should be more progressive.

The only way to make the income tax system more progressive than paying nothing, is to increase the earned income tax credit. I'm no economist, but this feels a bit like subsidizing employers who want to pay their employees less, at least when compared to the other option of increasing the minimum wage. That said, maybe on a macro scale this is just the bitter pill we have to swallow in order to have a sufficiently large work-force.

by Verified Atheist on Thu, 04/16/2015 - 3:57pm

47 Percent of Americans Can't Save Money at the Daily Beast

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