So personal savings can only go so far for these individuals. At the same time though Social Security treat single women far less well than it does married women so they are not getting much help from that end of things either. Thats one reason i and others have proposed reforming Social Security to provide a flat universal benefit for all retirees regardless of income participation. On top of that individual would save in accounts provided through their employer or of not available through the government. This approach is qualitatively similar to that of the u. K. Australia canada and new zealand. In the u. S. Context you can affordably reduce the elderly poverty rate from todays level of roughly 9 to approximately 0 while increasing the Retirement Savings among the middle and high highincome workers who truly should be saving more. The lesson in all this is that there is no simple problem and no simple solution but a small if more complex problem is better in the retirement crisi cri
At seven pm eastern. Coming up, the Senate Finance Committee Hears testimony. Tax and retirement policy analysts speak about the gap between how much americans are saving and savings needed. This runs two hours. The finance committee will come to order. When you take a look at the state of Retirement Savings in america, america, it is clear that something is out of whack. The american taxpayer delivers 140 140 billion each year to subsidize retirement accounts, but still millions of americans nearing retirement have little or nothing saved. The fact is, the, the incentives for saving and the american tax code just are not getting to those in need them most. A pair of new studies spells out the issue. The Federal Reserve found last month that an employee with middle of the tax savings has about 59,000 set aside for retirement, yet according to the Government Accountability office some 9,000 taxpayers have ira accounts worth more than 5 million. It would take several lifetimes of work fo
Philly, Michael Irvin always loved playing in philadelphia. Our fans are passionate. It is not an overreaction kind of town. There was a lot of reaction to that. It was a very negative reaction. I have some thoughts about how it was handled. Whether it was handled properly. The season started and there wasnt much. He had a pretty good season. I am not going to say that all is forgotten. I think people remember. He is trying to get past it. When i see him on tv, i am usually reminded of that. He has to deal with that. We have a false reality about race. This is what it has evolved into. Riley cooper, racist or not a racist . It was the same thing as Donald Sterling. It becomes racist or not a racist . There is nothing in between those two. What happens is people say you are or you are not. As if there is nothing that is in between that deals with how we have grown up or our perceptions. There is nothing that this is me off more that pisses me off more than people asking me if i played b
Saving for retirement and savings stated after retirement. And you reap lord says americans s accounts are rising. This is just under two hours. The finance committee will come to order. Would you take a look at the state of Retirement Savings in america, it is clear that something is out of whack. The american taxpayer subsidizes retirement accounts. Still millions of americans nearing retirement have little or nothing saved. The fact is the incentives and savings in the american tax code are not getting to those who need them most. Of the pack savings has about 59,000 set aside for retirement. According to the Government Accountability office, 9000 taxpayers have fire a ira accounts worth 5 million. It would take several lifetimes of work for the typical middleclass american to save that much money. How did the massive ira accounts come to be . In many cases they seem to be stock deals that most investors would never have access to. Executive buy stocks at a special rockbottom price
On what your Risk Appetite is. Smith but this isnt making it simple. Well, i. I wish it was simple. If you want to gamble with your retirement money, be my guest. Narrator tonight frontline, the retirement gamble. Frontlinis made possible by contributions to your pbs station from viewers like you. Thank you. And by the corporation for public broadcasting. Major support for frontliis provided by the john d. And catherine t. Macarthur foundation, committed to building a more just, verdant and peaceful world. More information is available at macfound. Org. Additional support is provided by the park foundation, dedicated to heightening Public Awareness of critical issues. The ford foundation, working with visionaries on the front lines of social change worldwide. At fordfoundation. Org. The wyncote foundation. And by the frontline journalism fund, with major support from fund, with major support from jon and jo ann hagler. In this bad economy are borrowing from their 401 k s. The number of