Washington's Backward Retirement Policy: So Wrong, and Yet So Easy to Fix - James Kwak - The Atlantic
The best way to have more retirement-security is through better economic and job-growth with more Americans working. Falling unemployment and rising wages more Americans have the resources to save what they need to plan their own retirements. Rather then government or their employer trying to do that for them which is really what individual-freedom and responsibility is about. Eliminate the middleman or middle women put the power and responsibility with the individual. If we accomplished this what would happen. More people working, more people making money instead of collecting money. More people making more money, more people with the resources to plan their own retirements, less people in need of. Social Security once they are eligible for it just to pay their bills in their retirement years. More people using their Social Security income like a senior citizen uses their income from a part time job that they have to. Keep themselves busy but actually not needing that job to pay their bills.
As far as pensions are concern I've already blogged this before but I'm for a version of what's called Social Security Plus. The base of Social Security staying in place and not privatized but where workers would have the option to create a new personal retirement account for themselves. That they would be able to put money into separate from their base payroll tax that would be matched by their employer and. Would be tax free in both cases that they would have the option to invest their PRA funds on their own. Like in stocks or in a business and be able to keep whatever they make from those investments but also. Be personally liable for whatever losses they may have as well. But since they now have the funds to make these investments, they should have the knowledge to know what are good investments and what. Are not and be able to make these decisions for themselves rather then their employer or government doing that for them.
We do not need less freedom for the people and more power for the government for our own good. To save Social Security or have a better retirement-system in America but we need more people working. And more people making more money and the ability to make these decisions for themselves.