One Social Security Comparison
Larry Kudlow had a good piece comparing a young worker's potential benefit under a private account scenario vs the status quo. Here's a bit of it:
Under current law, an 18 year old without a personal account would accumulate a
retirement benefit of $101,000, amounting to $843 per month. Under Ryan-Sununu,
with a personal account, that 18 year old would accumulate $939,000, or $5117
per month. In addition, the personal account can be inherited by family members.
One can point fingers at the assumptions, which appear to be somewhat conservative, used in the example. However the conclusion is readily apparent. The entire piece is worth reading.
For the record Ol' BC sees some form of private accounts as a great opportunity for the working poor and the lower middle class to move up the economic scale.
Just an observation.
posted by Ol' BC @ 10:26 AM
3 comments
3 Comments:
It is completely undeniable that Socialist Security is a bad deal. Never mind this crap about investing a "portion" of Socialist Security taxes. Invest the whole thing ... or better still ... just let people handle it on their own.
RWR
In an ideal world, RWR. I would love to handle my own, but it has to be able to be passed. It'll be watered down, then in a few years when people see the benefit, they'll want more of it private.
In an ideal world, RWR. I would love to handle my own, but it has to be able to be passed. It'll be watered down, then in a few years when people see the benefit, they'll want more of it private.
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