Tom Harkin a senator and former house rep who has been feeding at the public trough since 1975 and is the chair of a team of politcians who has brought the USA to virtual bankruptcy are coming up with a solution to the "retirement crisis".

http://www.harkin.senate.gov/documents/pdf/5011b69191eb4.pdf

OF NOTE on page 7 ... solutions

Universal Coverage USA Retirement Funds would ensure that every working person in America has access to a retirement plan through an automatic payroll deduction. Employers that do not offer a workplace retirement plan with automatic enrollment and a minimum level of employer contributions would have to automatically withhold a portion of their employees’ pay and send such amounts to a USA Retirement Fund. The employer could either choose a USA Retirement Fund or simply use the “default” fund identified for the region, industry, or through collective bargaining. Employees would be automatically enrolled in the USA Retirement Fund at a specified contribution level, but they could increase their contributions, decrease their contributions, or opt out of automatic enrollment at any time.

Employers’ only obligation with regard to the USA Retirement Funds would be to automatically enroll employees, ensure that employee contributions are processed, and make modest contributions.

SOCIAL SECURITY - How it is funded?

For workers the Social Security tax rate is 6.2% on income under $113,700 through the end of 2013. The worker Medicare tax rate is 1.45% of all income—employers pay another 1.45%. Employers pay 6.2% up to the wage ceiling and the Medicare tax of 1.45 percent on all income. Workers defined as "self employed" pay 12.4% on income under $113,700 and a 2.9% Medicare tax on all income.

So are these modest contributions in addition to the unfunded social security system whose trust funds are "professionally managed?

Is the American public really this dumb as to not see they have re-packaged the same thing under a different name and will they really trust this system will work better?

Will those who "opt-out" be forced to contribute through the tax system anyways?

It seems the leming factory is making them stupider every day!

orgy