If people and companies are taxed at too high a rate they will leave. No one wants to pay high taxes. A company has an obligation to do what is best for their shareholders.
So let's imagine life without those corporations. You can grow your own food in the back yard and ride a horse to your job in the general store. Call up your mother on a corded rotary dial land line (or earlier version). Sew your own clothing and go to bed when the sun sets. You haven't invented any of the wonderful technology that gives us this life of ease (and frenzy).
Corporations are not them, they are us. They are men and women who need the company to survive, or jobs go down the tubes. Corporate America is you or your neghbor or someone you love.
If the tax rate is wrong, find a solution so that the companies can afford to stay here and revive the local economies.
Everyone can complain, few have the answer. (And no, we are not the corporate elite. We've been kicked by the system.) But I still support capitalism.
On the other hand, isn't there a statistic that half have only $25000 or less? Dividing 8.7 trillion by the estimated 76 million boomers is an average of $114k each ... so that seems pretty believable.
Fortunately, I've invested in timeshares, and the sales people all told me they would increase in value. So there's my nestegg.
Fortunately, I've invested in timeshares, and the sales people all told me they would increase in value. So there's my nestegg.
This thread has sure veered away from the OP's post on baby boomer's retirement savings. Many of the posts are blatantly political which I thought was prohibited on TUG. I guess it depends on which side one is on.
Fortunately, I've invested in timeshares, and the sales people all told me they would increase in value. So there's my nestegg.
Congratulations on your timeshare purchases. They will surely provide you retirement security! In order to enhance your retirement, I can sell you a bridge in Brooklyn for a very good price.