Friday, March 04, 2005
SS Birthright
I'd favor a Birthright system for SS reform.
Like this: Each baby born to parents who are CITIZENS gets
a $10K package of bonds at birth, which can't be opened until
retirement, but can be inherited. Assuming 5% return, this would
give about 12K annual income after age 65. At current birthrates,
it would cost about $50 billion per year, which is chump change by
federal standards. This would also provide one small advantage to
being a citizen. As things now stand, all the incentives are backwards.
Citizens get to vote, and they get to serve on a jury, and they get to pay
taxes. Big whoopie. Non-citizens get to work without taxation; they get
free health care, free education, and all the other privileges
of a welfare society. ¶ 3:08 PM
Like this: Each baby born to parents who are CITIZENS gets
a $10K package of bonds at birth, which can't be opened until
retirement, but can be inherited. Assuming 5% return, this would
give about 12K annual income after age 65. At current birthrates,
it would cost about $50 billion per year, which is chump change by
federal standards. This would also provide one small advantage to
being a citizen. As things now stand, all the incentives are backwards.
Citizens get to vote, and they get to serve on a jury, and they get to pay
taxes. Big whoopie. Non-citizens get to work without taxation; they get
free health care, free education, and all the other privileges
of a welfare society. ¶ 3:08 PM
