Politics as Usual...
Today I was reading some political policy information on Centrists.org, as well as on the Libertarian Party website. I don't really agree with the Libertarians, but they have well thoughtout policy articles on their website. Anyway, it seems that the average American's personal income is $35,000 per year. It also turns out that if Social Security were privatized, a person making $35,000 a year could contribute their current amount to a privatized Social Security system and they would retire as a millionaire.
What is privatized Social Security? Basically, it would be (it is still a dream in the United States) a system that would allow each citizen to invest the money they now put into Social Security into a retirement account set aside for their later use. I thought about it and realized that in this scenario, a million dollars is actually a fairly conservative estimate - if the economy recovers to previous levels, people could earn much more.
Anyway, I just thought I would put in a good word for Social Security privitization on the Internet. Several countries already implement this plan successfully, and I think it would be a superb idea to get the American public and our politicians attuned to this idea.
What is privatized Social Security? Basically, it would be (it is still a dream in the United States) a system that would allow each citizen to invest the money they now put into Social Security into a retirement account set aside for their later use. I thought about it and realized that in this scenario, a million dollars is actually a fairly conservative estimate - if the economy recovers to previous levels, people could earn much more.
Anyway, I just thought I would put in a good word for Social Security privitization on the Internet. Several countries already implement this plan successfully, and I think it would be a superb idea to get the American public and our politicians attuned to this idea.