This sounds like something that "fiscal conservatives," the assholes responsible for allowing Reagan to scrap the progressive income tax screwing up the banking system so it favors only the richest came up with.
There's already a 15% contribution, it's called OASDI. The problem that it already duts into wages that are below subsistence. Does Congress know what those words mean? They mean you can't afford a place to live and food to eat. It means our hard work doesn't allow us the pay on which to live. It means a slowly starving, ill population of working people. It means disaster.
How dare workers who already don't have enough to eat not save for their retirement?
This whole idea is insulting, a pipe dream of upper middle class types who don't know what it's like to skip meals to make the rent.
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Any retirement plan that enforces savings in addition to OASDI needs to start with raising the minimum wage to a living level, otherwise it's just more mealy mouthed feel good crap for the upper middle class who want their kids to spend less on cosmetics and new phones and think about their distant future.
Nothing but raising wages at the bottom is going to work. Period.
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