John Tierney: “there are simple things that we should do just to get started. If we change the default on 401(k) plans so they default…”

“there are simple things that we should do just to get started. If we change the default on 401(k) plans so they default into them as opposed to they have to take an affirmative action in order to sign up for them, all of the reports show that would increase savings in this country or at least put a hedge on that. If we allowed people to bifurcate their tax returns, so instead of one check sent back or put towards next year's taxes, workers could actually have some set aside for a 401(k), reports show it would increase savings. We cannot get our colleagues on the other side of the aisle to join us in doing a simple first step. This is a serious matter. They talk about the ownership policy of the President. But basically it is every man, woman and child for themselves. They are not going to tax the estates of dead people, not going to tax dividends, but are going to tax every ounce of work that causes sweat on your brow, not have companies live up to their promises with respect to your pensions, let companies take away the health care that they promised when you retire. Mr. Speaker, as a government, we are about much, much more. This is a country that has always had a mixed economy. This is a country that has always relied on having a free market and that was always invigorated by a rigorous public square, public policy that worked for everybody; and corporations and individuals and government leaders worked together to find solutions. We are ready to do that.…”