re: In just a few years, the average retiree will be receiving 37% more in SS than he paid in

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If they are invested and remain invested, absolutely NOTHING happens

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Huge IF, especially once they're vested and can withdraw.

People in the upper tier in private markets lost their arse. You don't think the population of lower intelligence/decision-making won't do the same thing?

Again, you have to look at these programs from the POV of the government and the entire population. You have to build these systems to give equal opportunities to the lowest rung of society and decision-making. That destroys efficiency.