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From: mazlack@ernie.berkeley.edu (Lawrence J. Mazlack)
Newsgroups: net.invest,net.taxes
Subject: Re: Naked Greed?
Message-ID: <12687@ucbvax.BERKELEY.EDU>
Date: Wed, 26-Mar-86 17:23:33 EST
Article-I.D.: ucbvax.12687
Posted: Wed Mar 26 17:23:33 1986
Date-Received: Fri, 28-Mar-86 05:43:38 EST
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Reply-To: mazlack@ernie.berkeley.edu.UUCP (Lawrence J. Mazlack)
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Xref: watmath net.invest:1254 net.taxes:1142

>> 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.

Are you suggesting that all people should make the same income? Or that all
people spend their money the same. Realistically, people in the $35-50K range
(typical computer types) have vast differences in disposable income. For one
thing, a lot of people are "house poor". (spending most of their disposable
income on housing.)  Maybe those people shouldn't be allowed to deduct
interest?  Other people have new, shiny automobiles - others do not.

>    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.
>

Right on.

Larry Mazlack
mazlack@ernie.berkeley.edu