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#17
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[ QUOTE ] [ QUOTE ] [ QUOTE ] There is a high implementation cost for privatising retirement funding and many other private solutions. [/ QUOTE ] HUH?? how do you figure? Vanguard or Scottrade accounts cost almost nothing and far far out perform SSI [/ QUOTE ] I was specifically thinking of Social Security (SSI) in terms of implementation cost, but it works for other programs. Right now, people working largely fund today's retirees. If you eliminated SSI, workers would start saving more for their retirement. However, retirees need the money they are getting from today's workers to survive. If they don't go back to work, you will need a massive temporary increase in retirement spending so there's enough money for people to save for their retirement and pay for today's retirees. [/ QUOTE ] Cut spending in unneeded sectors ( there are plenty ) to cover the shortfall. These people payed SSI in good faith and should not be cut off. But I don't see how we cant fulfill our obligation to them and create a viable alternative for the rest of us. IMO Social security is one of the easiest things to fix. [/ QUOTE ] It is, but not likely the way you would fix it. (And certainly not the way GWB wanted to "fix" it). |
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