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Isn't this basically exactly how social security works? The longer you live the more profit you receive? It's why social security has been repeatedly called sex
by krisroadruck 11y ago
Isn't this basically exactly how social security works? The longer you live the more profit you receive? It's why social security has been repeatedly called sexist. Women tend to live longer, thus draw more social security, yet men tend to contribute more in social security taxes during their working years than women. A double loss prospect for men and a double win for women.
- lisper 11y agoNo, a tontine is structured differently. In a tontine there's a fixed pot of assets allocated to a fixed population of beneficiaries. In social security, neither of those is fixed.
- toomuchtodo 11y agoSocial security is more like car insurance, this is more like Russian roulette.
- jonnycowboy 11y agoDouble win for women, because they get paid less for the same work throughout their life??
- aianus 11y ago> because they get paid less for the same work That's not true, women earn less than men overall because they choose to do different jobs.
- Gibbon1 11y agoI've come around to an old critique I read thirty five years ago, which is women tend to do a lot of economically important yet uncompensated work; child rearing and house keeping. Something economists and policy makers tend to studiously ignore because you can't easily assign a dollar value to it or pin it to a particular quarters GDP.
- krisroadruck 11y agoIntentionally obtuse much? Its a double win because they both pay less in and take more out. Gender wagegap is another discussion entirely but I'll just leave this video here as my answer to THAT discussion: https://www.youtube.com/watch?v=EwogDPh-Sow https://www.youtube.com/watch?v=EwogDPh-Sow
- panic 11y agoHow is what you describe sexist? From your perspective, what would be a non-sexist way of paying out social security?
- jeremyt 11y agoYou fund your own personal social security account.
- aianus 11y ago> what would be a non-sexist way of paying out social security? Increase the payroll deductions for women seeing as how they live longer, same way my car insurance costs more than if I were a woman.
- boxy310 11y agoWomen also tend to earn less money, being dependent on their husband's income for much of their working-life. The SSA has actually studied this issue, and women tend to be much more likely to exhaust all other forms of retirement savings and subsist exclusively on Social Security benefits: http://www.ssa.gov/history/reports/women.html http://www.ssa.gov/history/reports/women.html
- deleted 11y ago[deleted]
- AnimalMuppet 11y agoYour car insurance would cost more if you were a woman? Citation needed. My impression is that most car insurance costs more for a man, because men tend to be more aggressive behind the wheel, and that translates into a higher incidence of accidents. At least, that's certainly the case for young drivers. I attempted to prove it with a quick quote from Progressive, but they want a real name so they can check credit history, and I wasn't willing to give it to them. So I can't (easily and quickly) prove that you're wrong, but I'd like to hear why you think you're right.
- jff 11y ago
- usefulcat 11y agoNo, SS is similar to an annuity, at least in terms of how the distributions are structured. SS payments don't vary much (or at all?), whereas payments from a tontine would vary over time.