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Chapter 14. Summiting the Mountain and B... > Spending Versus Investing

Spending Versus Investing

President Bush and the Congress took a number of actions to create an environment that fostered spending to boost the economy in 2003. Tax rebates and income tax bracket reductions were sweetened with a reduction in the capital gains tax. All of this was to promote spending. Although it was incredibly important for our economy to get the boost that it needed with markets in such a “bear” state, I also think that it's important for consumers not to confuse spending with investing.

Consider investing in something that can be leveraged, not consumed. Support the type of retirement reform proposed by Rob Portman and Ben Cardin that will allow consumers to save more for retirement.


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