[P-40]

For them the payroll tax confiscates the only funds they have available to save and invest.

That assumes that if they had those funds, which they can often get back through the EITC and still earn SS credits, they would save them. There is no evidence that such a thing would happen and in my experience as an employer...I get a chuckle just thinking about it.

[misterrob]

Actually, private savings would make people more money and allow employers to not have to pay in any longer hence improving profitability per employee by 7.65%.

Put it this way, $2.5K a year for 45 years at 8% interest would leave you with $1 million in the bank. That's with no matching investment by an employer. Do a 50% match and you have $1.5 million. With that kind of coin a person making 6% on their money is pulling in $90K a year income (taxable of course, bastards) and need not touch principal.

When they die, they can will the balance to their kids, friends or charity. No money for welfare or benefits for illegals. That type of plan will mean plenty of people would leave their heirs on much better shape and they themselves would live a comfortable life instead of scraping by on SS cheese.

Sweet.