What The Heck Is The "Chilean Model"? (Which Came Up in the GOP Reagan Library Debate)

Business Insider ^ | 09/08/2011 | Linette Lopez

[SeekAndFind]

Another Chilean Model:

[the invisib1e hand]

there are all kinds. Here's an example:

[SeekAndFind]

Joking aside, here is the Chilean Social Security Model as Explained by former Chile Secretary of Labor and Social Security, and Secretary of Mining, Jose Pinera:

CLICK ON this link

[God luvs America]

was it the chilian model or the chlayin model???

[Bringbackthedraft]

One of my neighbors, a welder, moved to Chile to take a job there. Seems like there’s work available there. I wonder if they have a border problem?

[WOBBLY BOB]

I’d sign up for that.

[the invisib1e hand]

yawn...

[Jane Long]

Seems similar to the Galveston (SS) model - but Galveston is an opt out, I believe.

[Jack of all Trades]

Military coup to overthrow a Marxist President? Sounds like a plan...

[GoldenPup]

... Workers are given the choice as to whether they would like to stay in a pay-as-you-go plan (like we have in the U.S.) or a new system in which they can put their entire payroll tax into a retirement account

Isn't this the system GWB tried to implement?

[billorites]

Read about Pinochet, Milton Friedman and the Chilean model Here.

[EQAndyBuzz]

Oh, so not guilty!

[Osage Orange]

http://www.youtube.com/watch?v=8IOVKtMiuas

[bcsco]

We have your explanation-- here's how they do social security in Chile according to Cato.org. Workers are given the choice as to whether they would like to stay in a pay-as-you-go plan (like we have in the U.S.) or a new system in which they can put their entire payroll tax into a retirement account. That way, they can benefit from compound interest.

That's precisely how Herman Cain described it last night. I'd not heard of it before and was wondering what it was. But he answered my question sufficiently for me.

[SeekAndFind]

RE: Isn’t this the system GWB tried to implement?

Yes, and I believe GWB wanted to model it after the Federal Thrift Savings Plan ( for Federal workers ).

He mentioned this in his first SOTU speech in his second term. Unfortunately, by then, he already used up his political capital because of the Iraq war.

SS was never even in the radar at all in his second term.

[NJRighty]

we told those people who had already retired that they had nothing to fear from this reform.

If we were to try that here, Democrats would be telling those people who had already retired "They're destroying your Social Security! They're gonna throw granny out in the street."

[Nat Turner]

I’m starting to REALLY like these Chilean models...we need to import more of them here and adopt them...

[Jedidah]

I’m familiar with the Chilean model.

Applaud Cain for so many good ideas. I do hope he has a place in the new administration.

[ClearCase_guy]

“I would tax these Chilean models ... and I think they would probably tax me.” [/old man in Monty Python skit]