Obama has called for another federal program to help provide incentive for people to save money.
To boost retirement savings, he has also proposed a 50% federal match on the first $1,000 of savings for families that earn under $75,000.
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So let me make sure I understand this. My neighbor is a pharmaceutical sales rep. He makes $73,000 per year and his wife stays home and drives a
Lexus SUV. They decide to put away $1000 into a savings account. My wife and I both work. Together, we make $81,000 a year. So Obama wants to take
our tax money and give $500 to our neighbor to reward his wife for staying home and not working.
So at the end of the year, my neighbors have $1500 in a savings account, and my wife and I have only $1000 in our savings account.
Great. Sounds fair to me. Put my tax money into other people's savings accounts. What's scary is that people actually think there's something
fair about this idea.