"The privatizers have spent almost six months arguing that Social Security is bad as an investment plan because it doesn't have a high enough rate of return. Now they have taken to arguing that it is bad as a welfare program because it gives too much to those who aren't poor. Social Security is also, I'm willing to concede, an abysmal hair dryer. But the point isn't relevant.
...
Social Security is a defined-benefit Social Insurance program that provides a baseline level of retirement security for everyone. Middle class people pay into the program during their working lives and they get benefits back when they retire."
Good read on the new plan for Social Security, courtesy of Talking Points Memo.
No comments:
Post a Comment