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Clodfobble · 04-30-2005, 07:59 PM

The big difference is that currently, X dollars out of your paycheck go into Social Security, and anything you want to put into your IRA is more out of your paycheck.

In this system, the money going into the private account would come out of what you are already putting into Social Security, so you wouldn't see a change in your paycheck. The two big disagreement points are: whether you will end up with as much money in the long run compared to other proposed Social Security reforms, and whether we can afford to pay current retirees with so much less money going into Social Security.

04-30-2005, 07:59 PM	#10
Clodfobble UNDER CONDITIONAL MITIGATION Join Date: Mar 2004 Location: Austin, TX Posts: 20,012	The big difference is that currently, X dollars out of your paycheck go into Social Security, and anything you want to put into your IRA is more out of your paycheck. In this system, the money going into the private account would come out of what you are already putting into Social Security, so you wouldn't see a change in your paycheck. The two big disagreement points are: whether you will end up with as much money in the long run compared to other proposed Social Security reforms, and whether we can afford to pay current retirees with so much less money going into Social Security.