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Erm, what? Yeah, you want to structure a retirement system where the well-to-do want to opt out. Otherwise, we're giving tax advantages for "retirement saving"
by ThrustVectoring 9y ago
Erm, what? Yeah, you want to structure a retirement system where the well-to-do want to opt out. Otherwise, we're giving tax advantages for "retirement saving" that really goes to heirs. How it's currently structured in the US, we do so through contribution limits.
If all the retirement system change is make rich people opt out and have poor people who die early pay for the retirement of poor people who die late, it's a smashing success.
- sokoloff 9y agoI see your point, but in any private system where only the poor participate, only the poor pay the fees that allow the system to exist, so you either further disproportionately disadvantage them financially and/or you provide them with notably worse service and support than the well-to-do enjoy for their investments.
- ThrustVectoring 9y agoWe might have different definitions of "well to do". I was thinking of households making over $500k per year.