The Social Security system loans its money to the government using one kind of investment, and pays out according to specific mathematical formulas, probably with the IRS doing the heavy lifting on the numbers. It's not surprising there isn't a lot of administration involved.
And yes, any free system will have more overhead. Efficiency is not the primary goal here. Decentralizing the retirement system and eventually giving it back to the people, is.
Bush never wanted to "turn over SS the trust fund" to Wall Street managers (or any other private managers). His idea was for people to have the option to put about 4 percent or up to $1000 in a private account they would manage. Even this tiny wedge was enough to make the socialists go nuts. To them, it has to be all the power or nothing.
Current Events » in reply to To be fair...
Re: Wow
The whole thread (44 posts)
- The facts about social security
- This...... is Bullsh*t
- And there it is. The bottom line of all of this.
- Gray strokes
- The problem is...
- To be fair...
- Re: Wall Street gains.
- The problem is...
- Wall Street gains.
- Re: American citizens abroad
- Re: Holy Appaloly.
- Do american citizens abraod have to pay Medicare?
- Holy Appaloly.
- Re: The facts about social security