Posts Tagged ‘taxes’

This article begins:

Democrat Barack Obama told voters Saturday he would push an aggressive economic agenda as president: cutting taxes for the middle class, raising taxes on the wealthy, pouring money into “green energy” and requiring employers to set up retirement saving plans for their workers.

Hidden deep inside the article, however, is the following passage:

He said employers should be required to set up retirement saving plans for workers even if they contribute no money to them. Workers would automatically be enrolled unless they choose to opt out, he said.

I am not a huge fan of Obama’s economic policies, but I do like the fact that he prefers a nudging approach as opposed to the full-blown nanny-state one favoured by many politicians. That was also apparent in his approach to health insurance, which, unlike Hillary’s, does not include a mandate that everyone has to buy insurance. In Obama’s worldview, the state ought to be there to help, but not by applying too much direct force. It is debatable if the resulting policies are good, what is indisputable is that this kind of ‘soft paternalism’ that consists of opt-ins, opt-outs and nudges is infinitely preferable to the coercive paternalism advocated by some others who believe they know best how you ought to run your life.

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