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Savings not age-specific
The Nov. 4 column by Robert Samuelson, “Safety net, not subsidy,” included statistics and opinions regarding income disparity between age groups. As mentioned, the 60-plus age groups likely consist of high earners still working and retirees spending their savings, much of which is withdrawn from tax-deferred individual retirement accounts. Like Social Security, these withdrawals are listed as income, which lacked clarification. By the early 1970s, it was obvious that Social Security alone was going to be inadequate to maintain a comfortable retirement...Read More
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