It angers me to see folks attempt to pull this sort of thing.
It also angers me when some on the right make statements about how unfair the elderly are, when the elderly of today were forced into playing the game and abiding by the rules they couldn’t control.
I do think SS and Medicare need to be privatized, but it needs to be done for people just entering the work force now, and structured to help them be much more secure than our seniors are today.
I remain convinced that can take place, and the sooner the better.
In a little over two decades, we could already be half-way to totally converting those programs.
This would prevent the government from gaming for votes based on it’s policies for SS and Medicare.
Privatize it now. Lets end this nonsense.
I remain convinced that can take place, and the sooner the better.
You are correct and it isn't that complicated. Chile did it, and quite successfully, under a military dictator. It went something like this:
The ages, of course, can be adjusted or even divided by the birth month 1% or even 0.25% at a time. The so called social security fund, of course, gets depleted sooner but in Chile's case, the economic growth was more than enough to offset it. The government was cut off from a cheap source of borrowing but, of course, a new pool of investment capital to grow the economy more than offset it.
When Chile adopted this plan in the mid 1970s, it was an emerging third world economy. Now, they are definitely in the first world.