Wednesday, August 14, 2013
Social Security
This chart, from the Center on Budget and Policy Priorities, tells you most of what you need to know about the importance of Social Security. Barring very bad political decisions, it will be with you through thick and thin, reliably keeping you out of poverty, unlike, say, your Detroit city pension, 401K, or Vegas real estate investments. And thanks to its near universality and contributory element, it is rather well protected against very bad political decisions, as FDR shrewdly intended.
Subscribe to:
Post Comments (Atom)
If I an not mistaken, Social Security is an income transfer program. It is not like a pension at all, with capital producing dividends etc.
ReplyDeleteThe money in the fund, as far as I know, is completely spent on other general fund areas.
Personally, I want a simple negative income tax for everything, but that is too simple to be feasible.