Democrats Advance Plan to Require Employers to Offer Retirement Plans - WSJ

Roughly half of American households are at risk of seeing their standard of living decline after retirement, according to Boston College’s Center for Retirement Research.

But wait, I thought this is why we bill employers and employees 12.4% of wages so that we can fund their generous retirement via Social Security?

Auto-enrolling employees in an IRA at 6% and gradually increasing contributions to 10% seems to be a tacit admission from the defenders of Social Security, and opponents of privatization or any reform, that the scheme is a failure.

This plan is privatized Social Security, with no discount on the Social Security Income tax.