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Politics : View from the Center and Left

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To: Lane3 who wrote (638)	6/10/2005 7:03:22 PM
From: Peter Dierks	Read Replies (1) of 541528

The federal government can't force people to save. I don't see any authority for that. I was under the impression that "forced saving" and similar benefits were the idea that sold Social Security. I thought you might be suggesting that companies do the forcing. Perhaps you have a better idea. Some businesses already force people into their 401ks. "The Generation Xers may not wish to have 1/4 of their earnings going to support the geezers that didn't bother saving for their own retirement." I agree something should be done about that, but forced savings isn't it. Cutting off the tax tap so that there is more incentive to save and more money available to save would be an approach more compatible with our history and culture, seems to me. People have been inherently shortsighted since the onset of Social Security. I am not convinced they were not shortsighted before SS. I know way more people who say they cannot afford to save for retirement than people who save enough to enjoy the same standard of living in retirement.

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