Well, Me thinks their is Alot more than just 2-4% Savings going on..for the Vast majority of Workers... they seem to always want to use different sources to spin these kinds of reports..Or go the otherway and include only those making $30k yr an up..or Only taxable and Not Non Taxable $...
To me, savings is the following , that I'm sure very few want to Include and are both taxable and Non taxable $..
1. The Net amt you pay into your Home's Principal
2. Amt. you and your Employer is paying into One's Pension/#401k plans
3. Amt one is Putting into any savings accounts, be they #529 plans & Reg. SA's
4. Amts. into One's Seperate IRA/Roth accounts & Investments.
5. Amt. into One's taxable Investments
6. Whole Life Ins. Policies
Thus a Homeowner with a #401k is probably saving more than 10% apy..
I paid aobut a total of $90,000 for my $50k place that included P&I and Down payment and sold it for over $250..now was that $90k savings or just the Principal? and shouldn't the Difference be a Capital Gain? and taxed as a LT 15% taxable gain?
and how about all those Getting Their Health Insurance paid all or in part by their Employer? Shoud that Not be also taxed? It is part of one's Salaary is it not? Many employers are just setting up Savings Accounts for employees to use for health cost..but that is not being taxed.. Is that fair? Or is it a Savings plan for the employee?
and when you go apply for Medicade/Welfare? You can have a $250,000 Paid in value Home and a $30k paid for car and still qualify..But can't have more than $240 in your Cking or savings account... Cute, isn't it?
and I , nor non of my family & friends have seen any of their Credit reduced or shut down..They all have their $10-$25,000 LOC's, 7-9% Rates. I would hope it's about time to Shut down those that don't belong having them, much like those Subprime people...and going back to not giving Fido or Your Teenage kids a Creditcard...or worse yet, your Kids In College..as they have been doing on campus...as told about on 20/20 and 60 Min. TV shows yrs back...