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Social security is a mandatory insurance program, not a mandatory investment program. Like any other insurance program, the solution to shortfall is to increase
by empthought 13y ago
Social security is a mandatory insurance program, not a mandatory investment program. Like any other insurance program, the solution to shortfall is to increase premiums or decrease payouts.
Since there isn't yet a shortfall that can't be covered by existing funding sources, these solutions have not yet been implemented. Just like a private insurance company.
- iterative 13y agoSocial Security is a ponzi scheme. Insurance companies have assets the can fall back on to pay claims, they don't just pay them out of insurance payments as they come in. http://www.forbes.com/sites/richardsalsman/2011/09/27/social-security-is-much-worse-than-a-ponzi-scheme/ http://www.forbes.com/sites/richardsalsman/2011/09/27/social...
- empthought 13y agoWhat? Insurance companies primarily finance the payment of claims from premium payments. Doing anything else would indicate an unacceptably high loss ratio and a failing business.