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The 401(k) Has Been a Failure and Should Be Replaced with New Guaranteed Return Accounts
BusinessWeek Link to more items from this source
[Opinion]
July 22, 2010

"All the tax-free contributions going into 401(k)s, Keoghs, and other retirement schemes reduce federal tax receipts by $193 billion a year. And almost 80 percent of the tax breaks go to the top 20 percent of taxpayers. So let's scale back the tax breaks. Instead, we can use the money to help everyone sock away 5 percent of their pay in safe retirement accounts that would serve as a universal supplement to Social Security."

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