Question

give your thoughts and impression about this topic ( no less than 300 words)

“Democrats want to force businesses to contribute to retirement plans, and they'll pay for it by raising taxes on the wealthy

A bill being introduced by Sens. Chris Coons of Delaware and Amy Klobuchar of Minnesota would require businesses to pay at least 50 cents into an employee retirement plan for every hour worked.

To pay for the proposal, the senators are proposing raising the corporate tax rate by 2 percentage points to 23%.

Many companies that currently offer pensions or provide matching contributions to 401(k) plans would already be in compliance.”

Answer 1

This plan is having both positive and negative effects because it is benefitting the employees but also making employer to spend more money. So it will have a small back lash if it is implemented and if it is not implemented also there will be a small opposition from employers. Hence before taking this decision to implement the bill it will better if is discussed with both parties and create an understanding between. If this bill is implemented there is a chance that many people will loose jobs as employers may want to reduce his expenditure and if it happen Than unemployment rate goes up. Thus in my opinion before implementation better to talk with both parties.