that is a loophole so big you could drive a Mack truck through it.
Editor's note · Context
Senator Conrad criticizes a significant loophole in financial regulations.
Share
More from Kent Conrad
If we are going to provide tax incentives for people to have retirement savings, then it should not be used as a piggy bank to pay for other things.
We all know that Social Security is going to have to be dealt with, or we are going to face by 2034 at the latest--many of us believe it will be earlier than that---an across-the-board 23-percent cut.
I wish I could look you in the eye and say, you know, if we just had the will, we could reverse this, and we could go back to a time when defined benefit plans were on the increase. I do not think that is in the cards.
It takes guts to do that, and Chairman Arrington, you have certainly led the charge on having a commission.





