How to get the Poor to Save

June 4, 2011 in Daily Bulletin

Slate’s Explainer took a look at some of the current programs that the United States government runs to encourage poor people to save. Some of the more interesting findings include:

  • The United States Federal Government spends $600 billion on measures designed to encourage the poor to save more, yet most of these measures only help the wealthy.
  • The vast number of investment schemes available for retirement schemes are so confusing that many just opt for inaction and avoid saving
  • In the United States 80% of the benefits of the tax treatment of retirement savings go to 20% of the earners

You can read more over here.

Source: Slate Magazine