Personally, privatizing social security would probably be a good deal for me
(ignoring that fund fees look like they'll be at least twice as much as in
the current system). But if the goal is to let our government avoid skyrocketing
inflation and taxes, then I fear that the promoters are being myopic. There's
an issue I don't see being discussed: what happens to people who don't save
enough or who retire during the next market crash or just choose the wrong
set of stocks? Will we all say "tough
luck, go live under the overpass and starve," or will we pay benefits
to them, just as we do now with social security? Since I can't see us doing
the first, that means we'll still be paying for social security benefits
-- except that those with access to the best financial advice won't be contributing
to the system. Sounds like a prescription for higher taxes and even higher
inflation.
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