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From: tbg@apollo.uucp (Tom Gross)
Newsgroups: net.invest,net.taxes
Subject: Naked Greed?
Message-ID: <2cb480d7.2a75@apollo.uucp>
Date: Tue, 25-Mar-86 10:19:08 EST
Article-I.D.: apollo.2cb480d7.2a75
Posted: Tue Mar 25 10:19:08 1986
Date-Received: Thu, 27-Mar-86 01:12:33 EST
Organization: Apollo Computer, Chelmsford, Mass.
Lines: 31
Xref: watmath net.invest:1250 net.taxes:1137


> That is not the way the bill works.  As it stands, all it does is to
> prevent a person from putting $2000 in an IRA and also putting $7000 in
> a 401(k) plan.  The total of his two contributions must be less than or
> equal to $7000.  Therefore he may put $2000 in his IRA and $5000 in his
> 401(k), or $1000 and $6000, or $0 and $7000, and so on.
> 
> Now, let's show a social conscience here.  Which of us is complaining
> that this is a trespass on our rights?  Who can afford to sock away
> $2000+$7000 each year?  Whoever you are, don't you think this attitude
> is Marie Antoinette-ish?  Face it, you are arguing for naked greed.


    First of all, I think a LOT of people can afford to "sock away"
    a LOT more than $7000, especially married professionals or
    even single wage earners.  Especially considering it's "socked away" 
    off the top, i.e. from the most highly taxed part of your income.

    I thought the whole point of the government initiating these 
    programs was to get people to SAVE which is supposed to be good 
    for the economy, somehow.  To then turn around and accuse people 
    who exhibit common sense and thriftiness as being "greedy" seems 
    more than a little unfair.  I am sure there are people in my 
    tax bracket who do not take advantage of their 401k and IRA and 
    I suspect they are the same people who somehow can afford to drive 
    Audi Quattros.  I'm waiting until I retire; then I'll buy a Ferrari.

                   
    Tom Gross
    Apollo Computer, Inc.
    Chelmsford, MA