[quote=kewp][quote=meadandale]
Adding another layer or two doesn’t change the inevitable–it just delays the day of reckoning…a pyramid scheme is still a pyramid scheme.
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Not necessarily. I think we should allow everyone to opt-in to the entitle programs *or* receive either a tax cut or a refund, for those that wish to manage their own retirement.[/quote]
kewp, I love the idea of people (even the baby boomers!) being allowed to freely take responsibility for their own retirement. But if lots of boomers did that, what would have happened? Would we have had a glut of savings, leading to extremely high asset prices and very low real returns? Would we have become an exporting machine, lending vast amounts of money and people to developing countries in return for future income from them? Would China or India have allowed that on the scale necessary to make it work for a majority of boomers?
