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Why don't we just privatize Social Security?
01-16-2013, 03:41 PM
Post: #2
brenton s Offline
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There is no way to pay for it. Once payroll taxes go to private accounts, there will be no resources to pay for benefits of existing retirees. The 12.4% taxes do not cover outflow as it is. There is nothing to invest. If you pay legacy costs from the general fund, you change nothing. Younger workers are worse off because you have expanded the govt's liability to Social Security. Unless you bail on benefits for existing retirees,privatizing the sysetm does nothing.

Enron which colluded with Citi and JPM to hide debt off balance sheet.
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Messages In This Thread
[] - brenton s - 01-16-2013 03:41 PM
[] - VLizzle - 01-16-2013, 03:41 PM
[] - Fox News #1 fan - 01-16-2013, 03:41 PM
[] - mecdub - 01-16-2013, 03:41 PM

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