Posted on 09/27/2013 10:02:36 AM PDT by SeekAndFind
Colombia has a similar system. The “maids” assoc. owns natural gas plants, hospitals, resorts and so on...they are doing VERY WELL!
“Everyone has excuses why something can’t work.”
Nobody complained here when FReepers illustrated how ObamaCare couldn’t work...
bump
As a Dave Ramsey listener, I have heard him run an analysis several times. My numbers might be slightly off, but they are relatively accurate for the principles of the discussion.
If a person is stuck for their entire working career at minimum wage, they will have 13% confiscated for SSIP (and Medicare.) Never mind that they would have to be a terrible worker and overall loser to be at minimum wage for 40 years.....If they were to invest that amount in a Growth Mutual Fund retirement account, they would have accumulated about $3M in a retirement fund. This would net them a monthly income of about $10K a month after retirement.
Yet, people fight like mad to prevent that very scenario, so that they can receive their pitiful $1K a month from their government overlords!
SSIP is a purely evil plan!
That can change quickly. Europe had the same problem, then America was born.
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