Originally Posted by Vern_in_IL
I think Social Security should be allowed to crash, and a new National Pension fund should be started, for everyone that pays in.
A pension that works like social security, but with hybrid mechanisms so when the minimum wage increases, or inflation, or weak dollar, it shall be immune. Backed by gold and silver. Not based on age but based on paying in.
The beauty of SS is that 15.3% of this week's GDP is spent on retirees who get the goods and services this week.
You can't save labor for 40 years, if you want a service it's delivered by someone else's labor.
I think Social Security should be allowed to crash, and a new National Pension fund should be started, for everyone that pays in.
A pension that works like social security, but with hybrid mechanisms so when the minimum wage increases, or inflation, or weak dollar, it shall be immune. Backed by gold and silver. Not based on age but based on paying in.
The beauty of SS is that 15.3% of this week's GDP is spent on retirees who get the goods and services this week.
You can't save labor for 40 years, if you want a service it's delivered by someone else's labor.