Earl Pomeroy: “They said we could not afford it. We could not afford to take a family making $30,000 trying to save for retirement, we…”

“They said we could not afford it. We could not afford to take a family making $30,000 trying to save for retirement, we could not give them a tax cut. So that if they get $2,000 into an IRA, we give them a tax credit of $1,000, representing essentially a 50 percent match on their contribution. There is no better savings incentive than an employer match through this tax cut to middle income families. We could essentially give them an Uncle Sam match, helping them save for retirement. I cannot think of anything more important than helping middle income families save for retirement. That is what ought to be the priority. We need to help people save for their later years before we get around to aiding Bill Gates with his estate dilemma.”