http://www.ideasprimary.com/?p=328 This is the Ideas Primary blog. Wed, 17 Oct 2007 19:30:35 +0000 http://www.orablog.org/?v=0.3 http://www.ideasprimary.com/?p=328#comment-69 Fri, 12 Oct 2007 14:11:46 +0000 http://www.ideasprimary.com/?p=328#comment-69 Social Security is a Ponzi scheme. It only works as long as more people pay in than take out. We need a real investment alternative. There are plenty of annuities and savings plans offered by private insurance and can operate more efficiently than social security. As a compromise, I suggest that when a person retires, he receive a voucher from the Soc. Soc. Adm. for the amount of his contributions plus a reasonable rate of return based on some index. The person can take that voucher and purchase an annuity from a private company. The person gets the value of his savings throughout his/her retirement and the government exstingushes a libility. Best of all, Congress can't buy votes by increasing benefits beyond what people pay in. Social Security is a Ponzi scheme. It only works as long as more people pay in than take out. We need a real investment alternative. There are plenty of annuities and savings plans offered by private insurance and can operate more efficiently than social security. As a compromise, I suggest that when a person retires, he receive a voucher from the Soc. Soc. Adm. for the amount of his contributions plus a reasonable rate of return based on some index. The person can take that voucher and purchase an annuity from a private company. The person gets the value of his savings throughout his/her retirement and the government exstingushes a libility. Best of all, Congress can’t buy votes by increasing benefits beyond what people pay in.

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