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Debate:
 Are Taxes
 Necessary

Reader Reply
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SAVINGS AND TAXES

Savings in the past, when consumer spending fed prosperity, were good for investment—and bad for sales. If government spending, on higher priority need, replaces some current consumption—so much the better. Such savings can be doubly good for the macro and micro economies. In fact, they can reduce the need for taxes when they take pressure off price in prosperous times. Taxes, after all, do not fund governments that employ fiat money with no ties to gold or silver.

But what of cash savings exposure to inflation? We believe it is essential to offer inflation protected savings—copied from the Treasury's inflation protected securities. Savings, indexed to keep up with inflation, are an essential element in all our plans.

In the currrent crises we see highlighted for our future how the middle class can be exposed to stock and real estate deflation that robs people of a lifetime's hard work.

Why should ordinary workers and consumers not be allowed to rely on money as their nest egg—without speculating in markets they avoided in favor of hard and steady work? It was their work than produced everything the nation needed. Had they been in business, someone else would have had to do the work. It is time for the voters to bring some order to our lives.