There are two crises facing Social Security. First the program has a gigantic unfunded liability, largely thanks to demographics. Second, the program is a very bad deal for younger workers, making them pay record amounts of tax in exchange for comparatively meager benefits. This video explains how personal accounts can solve both problems, and also notes that nations as varied as Australia, Chile, Sweden, and Hong Kong have implemented this pro-growth reform.

One cannot reform a Ponzi scheme by making it more expensive or less lucrative, and the dearth of new participants dooms a Ponzi scheme of any sort. The only real solution is to give workers control over their own funds and to keep them away from Congress.

Update! Could this link be the reason for the obsession about BMI?

 

 

 

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