GP Yes. Insurance. As in, "Buy this product and pay for it over time and *if* you ever need it, we will pay you." Social Security is not a pension. If you don't need it, you shouldn't get it.https://twitter.com/WhipClyburn/status/1090627604565102593 …
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Replying to @Gormogons
"if you need it, you get it, if you don't, you don't" is an invitation to moral hazard ; it actively disincentivizes saving. SS benefits should go to everyone or no one (I prefer the latter). Gov mandated saving in individual accounts is best of all (given the real world)
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Replying to @nels_christian @Gormogons
"given the real world" - i.e. political resistance to all the things I really want restated: "gov mandated savings into individual accounts is the best we could possibly hope for"
9:44 AM - 30 Jan 2019
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