Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“All government, in its essence, is organized exploitation, and in virtually all of its existing forms it is the implacable enemy of every industrious and well-disposed man.”     H. L. Mencken

May 2, 2013

Two words…

by Quincy

Matthew Yglesias says:

What’s needed is a much more forceful, much more statist approach to forced savings, whether that’s quasi-savings in the form of higher taxes and more Social Security benefits or something like a Singapore-style system where “private” savings are pooled into a state-run investment fund.

It only takes two words to show that this is massively unwise: Chrysler bondholders.

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  1. [...] UPDATE: A reader emails this link: “It takes two words to show Yglesias’ statist approach is massively unwise: Chrysler [...]

    Pingback by Instapundit » Blog Archive » MATT YGLESIAS SAYS 401KS SUCK. Instead he calls for “a much more forceful, much more statist approa… — May 2, 2013 @ 4:34 am
  2. And then there’s CALPERS.

    Comment by Sam L. — May 2, 2013 @ 7:05 am
  3. Here’s another two words: IRA taxes

    A similar policy was advocated by a group called themselves paternalistic libertarians (as oxymoronic as laissez-faire communists). The difference was that workers would be “encouraged” to save (not forced), and saving would be the default option if the worker didn’t choose.

    It’s ironic that many nanny-state supporters claim they want adults to be responsible citizens, but then they treat adults like toddlers.

    Comment by MingoV — May 2, 2013 @ 1:44 pm

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