Galveston County: A Model for Social Security Reform
http://www.ncpathinktank.org/pub/ba514
The democrats in congress during Ronald Reagan’s term raised the age to retire and blocked any future private investment that was already being done in places like Galveston, Texas where the monthly checks were much higher. See articles below about the plan from 1981.
Congress steals the social security money outright and leaves an IOU and little money for you every month.
How Three Texas Counties Created Personal Social Security Accounts and Prospered
https://www.forbes.com/sites/merrillmatthews/2011/05/12/how-three-texas-counties-created-personal-social-security-accounts-and-prospered/?sh=5e84d0373283
Excerpt: And those who retire under the Galveston model do much better than Social Security. For example:
A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financial’s calculations.
A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.
Using logic and actual real world examples on liberals! Where is your compassion, man?
Oh yeah Galveston was great, and Chile was also a giant success story the same way.