Quote:
Originally posted by Tyrone Slothrop
In fact, it's an intergenerational transfer, with the promise that you will similarly get to stick it to the next generation when you're old enough to have nothing better to do than vote and play canasta.
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By that point, we'd have to be sticking it to them like Robert Mugabe. That might fly in Africa, but not around here.
IF you're going to call it only an intergenerational tranfer then, yes, there's not much benefit, except some limited admin savings costs, that privatization will get you. But that's not the only debate--part of the debate is whether people should be forced to take some responsibility for their retirement savings in the form of investing themselves in a limited set of options.
