https://old.reddit.com/r/neoliberal/comments/1hqknqr/president_biden_should_veto_the_social_security/
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Is there a reason we need social security in 2024 and can't just invest our money freely into stocks?
!neolibs
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One reason is that it's super difficult to move away from Social Security because the funding model is a managed ponzi scheme in the sense that people think they're "investing" their contributions, but it's actually paying out today's entitlements.
You can't redirect today's Social Security taxes into an IRA/401k without alternative funding for present-time Social Security entitlements. I think it would be worth taking the deficit over it to switch to a model like the Australian superfunds, though.
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Cause r-slurs exist. I don't want to bail them out.
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It should always be optional unless you're making <$35k per year and/or fail to pass a basic financial literacy test.
!neolibs, it's a fair policy.
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Ping engaged
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Yes, it is!
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The best option might be for the government to mandate people that put their money in target date funds.
It doesn't make sense for a 23 year old to invest their entitlement into bonds and it's unsustainable for retirees to rent-seek.
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Population aging is going to wreck Latin American pensions by the 2050s. All government social security systems are fricked, at least the demographic situation for you guys at the US won't be as severe.
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https://rdrama.net/post/329324/rslur-takes-up-gambling-as-a
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tl;dr: This is union and state employee grifting to get Social Security despite opting to fund their more private system instead. They don't want to reap what they sowed.
!neolibs
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dear /u/zqbv
If you think that's bad, look how much underwater medicare/medicaid puts us. Hint: the entire federal budget deficit
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Snapshots:
https://old.reddit.com/r/neoliberal/comments/1hqknqr/president_biden_should_veto_the_social_security/:
undelete.pullpush.io
ghostarchive.org
archive.org
archive.ph (click to archive)
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