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