Quote:
Originally posted by taxwonk
My research tends to show that over a thirty-year cycle, short-term cash-equivalents, money-market funds, bonds, and equities all tend to return about 3-4% real income. So, unless you have some assclowns trying to time the market for thirty years, or writing naked calls with their retirement accounts, on balance most people will be okay.
And I'm advocating going to a true welfare system, regardless of the issues. Social security is little more than inadequate welfare for poor retirees and ridiculous welfare for wealthy retirees now.
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The problem with the system in paragraph 1 is the "most people", since those who are not "most" will likely end up needing to be supported somewhere. The portion of these financial costs born by the government has to be factored in, and the social costs have to be considered.
The problem with paragraph 2 is practical - you'll lose public support.
