If the government is going to dictate the terms than is it even private? But how do people making less than say 50,000 a year get the money to put away? Are you going to force them? And if not how are they going to provide for themselves when they are old? Should we just write these people off?
Basically if you want to do away with it you should do away with it. Forget the whole thing. We already know the government can't be trusted with the money.
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