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> >> They redistribute wealth from young people right now to old people right now, but they are sold to young people as though they are investing into their fut
by vageli 8y ago
> >> They redistribute wealth from young people right now to old people right now, but they are sold to young people as though they are investing into their future.
> I want to say that's fiction in the US but it's worse than fiction. The social security system pays out about what a person puts in over their lifetime.
Does that payout account for inflation? Why are we forced to give up a percentage of our wealth to let the government manage for us if it's a 1:1 distribution?
- Mirioron 8y agoI think the reason is that many people won't do it otherwise. Once they reach retirement age some of them will complain and others will demand that the government do something about it.
- amanaplanacanal 8y agoYour question sounds like it is about the history of Social Security, and how it got to be the way it is. Some googling will put you on the right track.