[Your Nightmare]

Let's see, who spends a lot but doesn't make money. Hmm, well, people living off of savings I guess. Wouldn't that be a lot of retired people? Looks like your plan would hit them pretty hard.

[ancient_geezer]

Let's see, who spends a lot but doesn't make money. Hmm, well, people living off of savings I guess. Wouldn't that be a lot of retired people?

Hmmm, you really ought to study the data YN, you only end up looking foolish when you're reading your chicken entrails and guessing, tends to lead you astray alot.

It fits,you would guess, the average 39 - 55 year old supposedly earning less than "19,999" dollars of "income" in this country is really retired and living off savings. ROTFLMAO.

http://bls.gov/cex/2001/Standard/income.pdf

Table 2. Income before taxes:
Average annual expenditures and characteristics, Consumer Expenditure Survey, 2001

Complete reporting of income a/

Item	Total complete reporting	Less than $5,000	$5,000 to $9,999	$10,000 to $14,999	$15,000 to $19,999	$20,000 to $29,999	$30,000 to $39,999	$40,000 to $59,999	$50,000 to $69,999	$70,000 and over
Households (thousands)	88,735	4,100	6,829	8,099	7,014	12,075	10,508	8,737	12,480	18,892
Income before taxes b/	$47,507	$1,666	$7,675	$12,380	$17,282	$24,494	$34,456	$44,418	$58,943	$113,978
Income after taxes b/	$44,587	$1,528	$7,678	$12,388	$17,086	$23,924	$33,047	$42,362	$55,572	$104,685
Average annual expenditures	$41,395	$20,517	$16,625	$20,642	$25,028	$28,623	$35,430	$40,900	$50,136	$76,124
Estimated market value of owned home	$97,681	$41,007	$49,326	$53,907	$58,377	$61,612	$72,720	$79,331	$115,123	$194,720
Household Demographics:
Age of reference person	48.0	39.4	54.1	55.4	53.0	49.5	46.8	45.3	44.8	45.5
Avg Number Persons	2.5	1.7	1.6	1.9	2.1	2.3	2.4	2.7	2.9	3.1
Children under 18	0.7	0.4	0.3	0.5	0.5	0.6	0.6	0.8	0.8	0.9
Persons 65 and over	0.3	0.2	0.5	0.5	0.5	0.4	0.3	0.2	0.2	0.1
Earners	1.4	0.8	0.5	0.7	0.8	1.1	1.4	1.6	1.8	2.1
Vehicles	2.0	1.0	.9	1.1	1.5	1.7	1.9	2.2	2.5	2.9

[groanup]

Wouldn't that be a lot of retired people? Looks like your plan would hit them pretty hard.

Actually, for most of them it would be a tremendous boon. They wouldn't be taxed when they HAVE to withdraw their qualified money at age 70 1/2. As it is now the HAVE to take their money out so Uncle Sam can get his. Nice, huh?

[phil_will1]

"Let's see, who spends a lot but doesn't make money. Hmm, well, people living off of savings I guess. Wouldn't that be a lot of retired people? Looks like your plan would hit them pretty hard."

Let's see, who has a lot of investments and would benefit from a rising equities market? Might that be well off retirees? If so, it looks like this plan would benefit them greatly.