Rick Lowe
Jose Pinera, Cato Institute Scholar and former Minister with the government of Chile and the founder of the International Center for Pension Reform shares his thoughts on privatised Social Security.
We can do the same here, and should if we want to save the fund for future retirees.
Here's a quote from Mr. Pinera on what he calls the "entitlement state" from the video below:
"The problem is there is a gigantic disconnect between what people want the government to pay in the future, in health, pensions, and what the people want to pay in tax. And because the entitlement state is based on promises for the future you don't have to pay it today. This is growing because to win elections politicians are making promises to people that will be paid in the future."
Not sure if I should say enjoy this video, but it is certainly an eye opener.
