Reply to Down and Out on $250K/year....

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Reply to "Down and Out on $250K/year...."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Many people who say they can't afford to save for retirement (including working class) really can. Certainly not maxxing but a contribution. [/quote]

OK, I'll tell that to my BIL who is living with his parents with massive debts hanging over his head while trying to support his two kids and fiancee on MAYBE $25K.  Since they can't even afford to pay rent...[/quote]

I would say your BIL is not the person being referred to.  [/quote]

then let's define "working class"...since we've spent so much time defining "rich"

For many families, putting ANYTHING aside is a luxury.  They are just trying to pay for rent/mortgage, food and gas for their cars.  Living in DC and seeing all the wealth and high salaries makes people out of touch with the everyday lives of "normal" people.

As for the tax brackets lumping $250K with $2M, yes, that is goofy and they can create tax brackets to accomodate that.  I know I've seen discussion of this, at least in the recent debate when they held tax rates steady at the Bush tax rates.  But we also can't tax CUT our way out of our current situation.  Holding where we are currently keeps our revenues below our expenditures.  It's absolute insanity to continue on this path.[/quote]

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