If you like the mandate to carry health insurance, you will love what may be on the horizon. Ideas are floating around to mandate saving for retirement, perhaps in government established funds.
Before you run to the phone to call Rush or Sean, think about what has just happened in the economy. Think about how many people were irresponsible with debt and their mortgages and certainly failing to save for retirement. Oh sure, you can always blame those unscrupulous mortgage brokers who talked a person into a mortgage with a payment equal to their total monthly income or the home improvement guy who talked a person into a new addition funded by a home equity loan and now there is no home equity, but hey is there no personal responsibility?
Too bad there is no one as persuasive to talk people into saving and planning for retirement.
I am not for mandates, they are a bit annoying I admit. I still remember being mandated to go into the army and that was no fun. The real question though is how do we get people to act responsibly? Is it any of our business if the other guy does not carry health insurance or approaches the golden years solely dependent on Social Security? Before you say, hell no, think of the consequences to society as a whole.
No, I am not moving my office next to Nancy’s, just trying to look at the practical side of individual behavior. I am open to all options.
Related Articles
- Individual mandate may be nonstarter (politico.com)
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