re: Do you believe in Social Security choice?

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You're proposing that we replace an insurance program with a savings program.

That would kinda defeat the point of having an insurance program.


If you know any history it also means every few decades millions of people will become destitute in retirement all at once.


Now - if you want to ADD individual retirement accounts to the program I'll all for it. Take the regular, what is it, 12% combined EE+ER SS insurance contributions and add in another - say - 4% required retirement savings contributions - and I think that's a good idea.

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Ah shite, I always forget it's Social Security Insurance. It makes a little more sense that we can't control the investments.

I agree that adding a savings/investment program to SS would be a good idea. I don't know about tacking on another 4% that gets taken from your paycheck... but restructuring SS to allow for investing sounds like a nice thing.

I think Australia has a mandatory retirement savings program and it seems to work reasonably well. I'm not an expert on it, though.