I agree, but why then does he limit it to those making less than $200K/year. If it’s wrong for those making less than this arbitrary limit, it’s wrong for those making more.
Class warfare is no way to get my vote.
Ahhhhh.... all the purists come out of the woodwork. :)
I thought $200,000 was pretty generous, frankly. I was expecting about $150,000.
As far as addressing the issue of social security, I think this is a very good start. Knocking down the incentives to save makes saving all the more economical to spending. And really, once you get much beyond the daily costs of living, it becomes far easier to save.
The Citizens for Tax Justice guy was complaining that this didn’t help out the average American enough because he “only” makes $43,000, and this goes to $200k. I managed to put back some money when I was making far less than average.
The point is to encourage Americans to save and to wean them from government dependence. I think this would be a huge step in the right direction. And as someone a few years away from embarking on a professional career, this sounds pretty nice about now.