Greedy Blog

Thursday, January 20, 2005

Social Security
I agree with most of this article. I would add a few points, though.

One tenet of government is that whatever you tax you get less of, and whatever you subsidize you get more of. For retirement savings, this is a double whammy. Retirement, in theory, is taken care of, so people don't have to save for it at all. Thus, with Social Security, you get more non-savings for retirement than you would usually. The flip side is that people are already "saving" 14% of their money, so they don't put any more money towards retirement.
Luckily, most people ignore Social Security's contribution to their retirement altogether. If people really relied on the government during retirement, we would really be in bad shape with regards to fogies.

I've said before that I would give up all that I've put in if I never had to pay anything back. I'll extend that. I'll still pay until I'm 35 as long as I don't have to pay after that.

Like I said after the third presidential debate, I'm pissed that Bush doesn't have the sack to stand up for true conservative economics with regards to health care, the minimum wage, government spending, etc.

Posted by Gel 2:25 PM Post a Comment

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