Should the United States implement mandatory autoenrollment retirement savings? And if so, how? Published by Jane the Actuary View all posts by Jane the Actuary
One thought on “Forbes post, “Are We Headed Towards Mandatory Retirement Savings In The United States?””
I do not wish government to force me to do ANYTHING that they say is “for your own good.” Government is NOT there to tell me what to do with my life. Government is ME. It is YOU. It is WE the PEOPLE, not an agency that decides how you shall plan your life. It creates laws that are primarily aimed at protecting the rights of individuals. It also has been responsible for creation of infrastructure, to “promote the general welfare” of us all. Nowhere does the US Constitution say that government can force me to save. Likewise, it is NOT responsible for my well=being should I fail, for whatever reason. That is what charity is for. If I or someone else are lazy, then we reap what we failed to sow. Success AND failure are BOTH options in life, and it is not the place for a government to create a safety net for all. That is something local charities should be doing. It keeps the giving, the caring, personalized, local, and cuts out a huge unwieldy impartial bureaucracy.
Plus, if citizens were taxed less by government, we would have FAR more with which we could be charitable.
But no, too many people want to control others, and those who are able to get elected soon become drunk with that seeming power, and like Bloomberg imposing a size limit on sodas, other people are drooling to determine what we do with the fruits of our labors. And of COURSE, that will be done by taking our property, our money, away, then holding onto it for us until THEY think we need it. We are simply not smart enough to run our lives. That is how these arrogant people think. This is already happening with IRAs and 401(k)s. Take your money before they approve, and BANG! PENALTIES!
Government forcing us to save? BAD idea. And just think if that happens, the pool of money that will create, where vultures will gather around, and thieving foxes will find a way to raid that hen-house, decimating the account values.
Janetheactuary, I believe you are on the wrong side of liberty and the Constitution with your idea.