Thursday, January 30, 2014

It's Called Social Security

What a weird proposal this is.  Mandatory 6% savings of workers going into a retirement account.  Weird because we already have this thing and it's called Social Security.  Up the percentage from 6.2 to 9.2 (and matching employer--also, too, eliminate the cap) and then adjust SS payouts accordingly.  That has the potential added benefit of immediately boosting current SS recipients' incomes.

The Harkin proposal, on the other hand, is a pretty crappy not-even-second best.

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