Don Boudreaux on Social Security:
Not only are Social Security's returns lousy; not only are its "customers" never vested their "contributions"; not only does the institution providing it have no sound plan to keep it solvent; not only does this institution intentionally mislead its clients about its insolvency (witness its discussions of the illusory "trust fund") - but its "customers" are forced to buy it. That is a dangerous financial product!
1 comment:
I saw that Becker estimated the returns on Soc Sec to be about $.40 on the $1 dollar paid. This is a scandal. Atleast allow us to make choices to where out dollars go and the ROI they recieve.
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