BS. There is no plan that will work and the simple reason is Demographics. How does he get around that?
We are a nation of about 311 million population with the prospect of somewhere around 50 to 70 million Baby Boomers retiring in the next few years. In 1960 the ratio of those paying into the system was roughly 22 to 25 people per person getting SS benefits. Now that ratio is about 2.3 to 1. When all those Baby Boomers hit the ratio goes to about 1 to 1.
Do you actually think that generations X,Y,Z and AA will pay that Tax Freight for those getting ready to hit SS? I don’t think so. The reality is that the Baby Boomers and the those behind them will get no SS or Medicare, we are broke there are no monies to pay out and yes a Default is coming.
We should all just kill ourselves....That will show them!!
Did you read the Plan? Did you watch the video? Do you know that the actuaries are in agreement that this plan will work. Do you realize that if your personal account fails because the market completely tanks, the LEAST you get is what you would have gotten from the existing system? Do you know that under this plan it becomes YOUR account, money you can leave to your offspring?