Quote:
Originally posted by Bad_Rich_Chic
Some of them do just gloss it over, but I think a lot of privatization advocates have actually tried, with various schemes, to address that. A number of them posit that a residual, basic, means-tested, public safety net will exist, which might be (correctly) called "welfare," and a lot of critics (willfully?) fail to realize that that, too, is part of those plans to overhaul SS.
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I don't necessarily disagree with what you say, but I still fail to see how privatization solves those problems.
If SS goes too much to the rich, cut the benefits at the top end, or means test, or tax (this despite promised made to the generation).
If all we want is a safety net, create that. Lower taxes adn benefits, and promise a much lower benefit that's right at the poverty line.
Privatization does not mean no savings. It means forced savings without a gov't guarantee. If you're going to force people to save--that is pay for their own retirement--you might as well make sure it will be paid for no matter how incapable they are.
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