Re: The common wisdom
Social Security, if it is to be privatized, has to be dismantled over many years, even decades, with the primary condition that everyone over a certain age will be guaranteed whatever benefits they would have gotten under the original system. What that age would be (35?) is debatable. Privatized systems have to be brought in slowly, and allowed to build over years. This would be expensive for a while, chewing into general revenues, but worth it in the long run. This has worked in countries like Chile. I thought the 2 percent idea was a good start, but to hear the Left talking, you'd think Bush had proposed grinding the elderly into Soylent Green.