a benefit if they offered health care, and employees, of course, would get their health care with pretax dollars, so the government got us into this mess in the first place, and now they are getting more and more into it, and i would like to see that changed. you know, we don't get our long term care insurance, and we should -- 64% of americans get their health care through their employer, and we need to change that to build a market-based health care system because if you lose your job, your health insurance, you go into the individual market, and you buy were health insurance with after tax dollars. we don't have a level playing field. >> people who support the single payer system look at that same fact that it's employer-based saying that leaves us out of it if we lose our jobs or are unemployed for other reasons. you see the same circumstances from a sircht per -- circumstance from a different perspective? >> i would like to move away from employer-based insurance, but if the government wants to do something it's to change the tax code to individuals get their health care are pretax

up in the pretax.go with the 401(k) and invest it. >> what i did here on the radio and in some other places, they were using the term 401(k) abuse. if you look at it on the other side, what is 401(k) abuse supposed to be? too many loans or taking money out and not paying it back or what? >> they're saying too many loans and, also, as a lot of people are taking these loans out, they're losing their jobs. what happens when you lose your job, usually you have several years to pay back this loan. but once you lose your job, you have 60 days to pay it back. a lot of people, almost 70% of the people that pay these loans are defaulting on these loans. it's becoming a problem because everybody is looking at it from that point. >> it's maybe not so much 401(k) abuse as it is 401(k) financial disaster. >> i think you may be right. i think there's time for a shift. this has been in place for a while. i think it's time for us to look at a different mechanism instead of the 401(k). i think it's outdated. >> i asked

when ted beta allowed his employees to pretax contributions to the retirement account and the firm offered matching employer contributions. 60% of households nearing retirement have 401(k) type accounts. the earliest 401(k) investors about to retire have an average of $144,000 in funds. >> reality is we would never take that money, and each paycheck, we would put it into an investment. >> reporter: ted bennis says 401(k) was never intended to be the sole retirement plan. he admits the plan has flaws but praises its advantages. here is how you can make the most of a 401(k). first, start early. >> the biggest mistake that people make when they have a 401(k) available is to not get in the game at all. >> reporter: take advantage of your employer's matching contributions. if you don't, you're turning down free money. many large companies match the first 6%. next, contribute. and then contribute more. you can save a maximum of 16,500 each year, if after 50, take advantage of the catch-up provision to save an extra $6500 annually. if you're confused how to invest, choose a mix of stocks and bond

and russian bank pretax profit not including the largest lenders berber had jumped sixty three percent of the first four months of the year banks earned over five billion dollars during a period according to a report from the central bank. the billions of dollars being spent on construction for the twenty fourteen winter olympics in sochi are attracting foreign investors among them american company guardian which is opening a glass factory in southern russia around two hundred thirty million dollars will be invested a lot to produce free hundred million square meters of glass a year that's enough to cover the whole city of rust on the on the capital of the region where the plant will be built with the ford millimeter thick sheet of glass more russian garbage will provide raw materials germany will be supply equipment and the long planned merger of russia's two stock exchanges the nice exam the r.t.s. should be finished by the end of this year but some technical issues might be left aside this year the legal integration is likely to be completed by the deadline as the president of nice

and russian banks pretax profit loss including the largest lenders burbank jumped sixty three percent in the first four months of the year banks earned over five billion dollars during the period that's according to reports from the central bank a long planned merger of rushes to stock exchanges m i six and the r.c.s. should be finished by the end of this year but some technical issues might be left aside this year the legal integration is likely to be completed by the deadline as the president of the nice told business. but if you are you terms of being legally binding of you is not going to food yet there are some details which will work europe is different for the e.u. we think that. the time when this will happen the end of the year deadline is the deadline which remember is deferred money for business to gratian and babies and some degree but we leave that aside for this year appreciable integration of a team to bridge the end of the years it is good to very still be build if you're going to decrease from what are you when you think you will close and when we. will be legal we wi

russian bank pretax profit not including the largest lenders burbank jumped sixty three percent the first four months of league banks and over five billion dollars during the period according to a report from the bank of russia the central bank. the long planned merger of russia's two stock exchange of the night six and the r.t.s. should be finished by the end of this year though some technical issues might be left aside this year the legal integration is likely to be completed by the deadline as the president of the nice exchange told him stop the big deal troops are being legally binding he was not going to food here there are some details which we weren't given because the principle being at least we think. we time this will happen the end of the year deadline if the deadline which we mentioned is a good morning for business good gracious and great business and to preach but we leave this right for this year a parishioner with the grace and a team to gratian the end of the years is good governance legal issues you configuration what are you going to do with flows and when the. going to

and russian bank pretax profit not including the largest lenders burbank jumped sixty three percent in the first four months of the year banks over five billion dollars during the period according to a report from the central bank. one of russia's top makers chel pipe has once again postponed its initial public offering in london the company says the price which investors are ready to pay is too low a first try to place shares in february looking to raise around seven hundred million dollars. the long planned merger of rushes to stock exchanges the nice extend the r.t.s. should be finished by the end of this year so some technical issues might be left aside this year the legal integration is likely to be completed by the deadline as the president of the nice exchange told business r.t. the deal terms of being legally binding to you is not going to get there are some details are true working on this difference of opinion we think the great mystery time when this will happen the end of the year deadline that they're going live with tremendous impact as the deadline for business integrati

and russian banks pretax profit not including the largest lenders per bag jumped sixty three percent in the first four months of beginner banks earned over five billion dollars during the period. from the central bank. the billions of dollars being spent on construction for the twenty fourteen winter olympics in sochi are tracking foreign investors among them american company guardian which is opening a glass factory in southern russia around two to thirty million dollars will be invested in a plan to produce three hundred million square meters in the glass and yeah that's enough to cover the whole city of crossed off on the on the capital region where the plot will be built in the form of it's a fake sheets of gloss now russian companies will provide old materials germans will supply the equipment. we will be back next hour with an update headlines the next on thing. for sun this is just a parliament building into. what sixty six years ago it was the final target. and the last major offensive for the red army. its capture became the symbol of the fascists into. the victory over nazi

and russian bank pretax profits not including largest lenders burbank jumped sixty three percent the first four months of the year banks earned over five billion dollars during that period according to a report from the central bank. a long planned merger of rushes to stock exchanges the nice expand the r.c.s. to be finished by the end of this year some technical issues might be left the side this year the legal integration is likely to be completed by the deadline as the president of the mice exchange told business. what do you mean terms of being legally binding you is not going to give there are some details so we're trying to work on this difference of opinion so we think that from a gymnast retirement the stroke happened to the end of the year deadline but never mind it which reminds some players good mind for business for gracious and business and good gracious but we leave the sides of the spear a very small degree some and making progression go again over the years he's the best person to be able to accumulate a great from are you going to go close somewhere maybe it. wouldn'

give employers benefit if they offered health care and employees would get their health care with pretaxed. the government got us into the mess in the first place. now they are getting more and more into it. i would like to see that changed, we don't get our long-term care, house insurance through our employer. 60% of americans get their health care through their employer. we need to change that to build a market-based health care system. because if you lose your health insurance, if you lose your job, your health insurance, you go into individual market and have to buy your health care with after-tax dollars. we don't have a level plays field. >> host: people that support look at the fact. it's employer based. that leaves us out if we lose our jobs or aren't employs or other reasons. you see the same set of circumstances and come at a solution from a different perspective. >> guest: i think it's ultimately, i would like to see us move away from employer-based coverage. i think what we should do, we have to change the tax code so that individuals can get their health care with pre-taxed do

get caught up in pretax and seems like so much more. on the radio and other places that term 401(k) abuse. look at it on the other side, what is 401(k) abuse supposed to be? too many loans or taking money out and not paying it back or what? >> they say it's too many loans but people take loans out and then they lose their jobs. what happens when you lose your job, you have several years to pay back this loan if you take it from the employer. once you lose your job, you have 60 days to pay it back. a lot of people, almost 70% of the people that take loans are now defaulting on the loans. everyone is losing if you look at it from a government and company perspective. >> it's 401(k) financial disaster. >> time for a shift. this has been in place for a while. it's time to look at a different mechanism instead of 401(k). it's outdated right now. >> i asked viewers to weigh in on the 401(k) plan and i got some responses. either my facebook or twitter page. judy says my two older kids had to dip into their 401(k) but they pay it out of their c

that you take your employer for health insurance, out of your pretax income.t reduces your tax burden and that is a subsidy the government is giving you to buy health insurance. that is a big thing, also an important thing. if you eliminated that suddenly, perhaps some people would refuse to do that, they would opt out of the program and not get all the trends. what would happen to those people? it would fall back on the government in some way or another. about 60% of people under 65, people who do not qualify for medicare yet, get insurance through their employers. we are talking about many people across the country. this is the kind of tax break that a lot of people don't even realize or think about. host: break down what "the fiscal times" found. 60% of americans younger than 65, $174 billion in annual lost revenue. the average annual premium for family insurance is $15,000, and it typically covers about 70% of the premium, and that the employer gets the tax break as well. guest: yes, the employer gets a tax bite on the portion they pay. for the average fam

the fact is, the private sector can bring real change to our health care system in a way that pretax the best health care delivery system in the world. i have to tell you, i love you to death, but i do not think the taxpayers should be paying more medicare premium. plan, let's allow the american people to decide which health-care plan fits their needs. if you are middle income, lower income, we are going to pay, just like we did today, for the cost of those premiums. but for people of means, that there is no reason why we should subsidize peterson's premium. i am sorry. i know that this is oh, my goodness, we cannot do this. we had to treat all americans alike. let me tell you, we're broke. for those who have substantial means, you can pay your own premium. [laughter] you wanted english, you will get a list. >> i am beginning to take this personally. [laughter] >> we better go to the next question. >> are there any plans for the house to consider this year legislation that would provide a tax holiday to encourage companies to repatriate profits held overseas, similar to the proposal