• [ network ]
  • goatmatrix.net
  • gvid.tv
  • img.gvid.tv
  • games.gvid.tv
  • apps.gvid.tv
HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

Stossel: Free-Market Social Security

Views:1151
@ReasonVids

How to reform social security so that it won't bankrupt us.

---------
Subscribe to our YouTube channel: http://youtube.com/reasontv
Like us on Facebook: https://www.facebook.com/Reason.Magaz...
Follow us on Twitter: https://twitter.com/reason
Subscribe to our podcast at iTunes: https://goo.gl/az3a7a

Reason is the planet's leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won't get from legacy media and old left-right opinion magazines.
---------
Today is the 83rd anniversary of Social Security, and this year it went into the red. In the long run, it has a shortfall of $32 trillion.

John Stossel says that the program is unsustainable. Young people shouldn't expect it to cover their retirement.

Romina Boccia explains the Heritage Foundation's plan to allow young people to contribute to their Social Security payments via private investment accounts.

Those private accounts would likely grow faster than people's contributions to Social Security, and young people could invest in "whatever floats your boat," Boccia tells Stossel.

Private investment accounts have been tried in other parts of the world. When Chile started them in 1981, it was poorer than most Latin American countries. Now it's the very richest.

Yet mass demonstrations denounce it for being run privately, and for companies taking some of the profit. They miss the fact that Chileans have more money for retirement than most Latin Americans only because of their private accounts.

Privatization is also unpopular in America, and so are Boccia's other proposals. She and Heritage would raise the retirement age to 70 to account for rising lifespans.

"When Social Security was actually founded, life expectancy was below 65," Boccia tells Stossel. Now it's 78.

Stossel tells Boccia: "What you guys are pushing is the right thing to do, but it's not popular." She replies: "It is not popular, but I think people don't fully understand how these programs work."

The good news is that this was the first time that when Stossel went to talk with people on the street, most people understood the problem.

One man called it a "Ponzi scheme" and asked, "why not take it and invest it in the stock market and let it grow that way?"

A woman summed it up well: "The country's in a deficit; there's a point where you can't pay out and go in the negative forever."

The views expressed in this video are solely those of John Stossel; his independent production company, Stossel Productions; and the people he interviews. The claims and opinions set forth in the video and accompanying text are not necessarily those of Reason.

libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
,
social security
,
medicare
,
john stossel
,
privatization
,
free market
,
heritage foundation
,
romina boccia
    Thumbnail for Remy: People are Outraged!1:41
    Remy: People are Outraged!
    ReasonVids
    985 views
    Thumbnail for Police Posing as Punks Bust Rockers: Don't Cops Have Better Things to Do?!1:54
    Police Posing as Punks Bust Rockers: Don't Cops Have Better Things to Do?!
    ReasonVids
    1088 views
    Thumbnail for The testimony of Ralph “Unstoppable” Wilmas33:54
    The testimony of Ralph “Unstoppable” Wilmas
    AOUisgay
    618 views
    Thumbnail for West Hollywood Reacts to SCOTUS Gay Marriage Decision2:40
    West Hollywood Reacts to SCOTUS Gay Marriage Decision
    ReasonVids
    1020 views
    Thumbnail for Heil Kitler0:11
    Heil Kitler
    bestofupgoat
    157 views
    Thumbnail for In honor of Juden Peterstein Kvetchiing about antisemites on twatter... DISMANTLED 30:57
    In honor of Juden Peterstein Kvetchiing about antisemites on twatter... DISMANTLED
    bestofvoatxyz
    947 views
    Thumbnail for US/NATO Funded Ukraine List, Crime is Pleading UN for Peace, 300+ Targeted Including a 9 yr old45:53
    US/NATO Funded Ukraine List, Crime is Pleading UN for Peace, 300+ Targeted Including a 9 yr old
    bestofsaidit
    1063 views
    Thumbnail for California Business Owners Sue Gov. Newsom Over the Lockdowns5:44
    California Business Owners Sue Gov. Newsom Over the Lockdowns
    ReasonVids
    1043 views
    Thumbnail for Kamala Harris: Drug Warrior, Vice Cop, Draconian Prosecutor7:37
    Kamala Harris: Drug Warrior, Vice Cop, Draconian Prosecutor
    ReasonVids
    959 views
    Thumbnail for Jewish Methods Of Subversion: Gemma O'Doherty Interviews Dr. E. Michael Jones1:12:32
    Jewish Methods Of Subversion: Gemma O'Doherty Interviews Dr. E. Michael Jones
    bestofvoatxyz
    425 views
    Thumbnail for Backpack Funding: The Big School Reform That Fits in a Tiny Package1:51
    Backpack Funding: The Big School Reform That Fits in a Tiny Package
    ReasonVids
    929 views
    Thumbnail for NO JEWS IS GOOD JEWS (Update)0:58
    NO JEWS IS GOOD JEWS (Update)
    bestofvoatxyz
    601 views
    Thumbnail for One of the best survival plants0:57
    One of the best survival plants
    bestofupgoat
    552 views
    Thumbnail for How Big Was The Freedom Ship? 😮 | Zack D. Films0:32
    How Big Was The Freedom Ship? 😮 | Zack D. Films
    invidious
    87 views
    Thumbnail for Damn, I guess Tate is not the only one catching w's0:49
    Damn, I guess Tate is not the only one catching w's
    bestofsaidit
    916 views
    Thumbnail for Ding Dong Ditch1:05
    Ding Dong Ditch
    bestofupgoat
    72 views
    Thumbnail for Lazy Nigger0:22
    Lazy Nigger
    bestofupgoat
    227 views
    Thumbnail for Invoking the Spirit of Peak Covid Faggot In NYC original content0:05
    Invoking the Spirit of Peak Covid Faggot In NYC original content
    bestofupgoat
    490 views
    Thumbnail for J6 - Diversity Officer Aquilino Gonell (under oath):  “I was bleeding from both hands, [had] a maimed foot, hit on the head, sprayed with pepper and bear spray, beaten, punched, pushed, pulled, and assaulted."2:12
    J6 - Diversity Officer Aquilino Gonell (under oath): “I was bleeding from both hands, [had] a maimed foot, hit on the head, sprayed with pepper and bear spray, beaten, punched, pushed, pulled, and assaulted."
    AOUisgay
    463 views
    Thumbnail for Gym E-Whore Gets Checked0:34
    Gym E-Whore Gets Checked
    bestofupgoat
    141 views
    Thumbnail for Tonight, good triumphed over evil! God bless President Trump! 0:15
    Tonight, good triumphed over evil! God bless President Trump!
    bestofupgoat
    241 views
    Thumbnail for Has Anti-Racism Become as Harmful as Racism? John McWhorter vs. Nikhil Singh1:48:15
    Has Anti-Racism Become as Harmful as Racism? John McWhorter vs. Nikhil Singh
    ReasonVids
    807 views
    Thumbnail for First Contact1:22
    First Contact
    bestofupgoat
    189 views
    Thumbnail for Pine Tree Time-lapse 300 Days1:56
    Pine Tree Time-lapse 300 Days
    invidious
    415 views
    Thumbnail for Crab The Spotlight With Sarah's Sumptuous Napoleon!🦀 #shorts #crab #napoleon #buffy | cookingWITHfred0:27
    Crab The Spotlight With Sarah's Sumptuous Napoleon!🦀 #shorts #crab #napoleon #buffy | cookingWITHfred
    invidious
    208 views

points

Permalink
Reply
libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
,
social security
,
medicare
,
john stossel
,
privatization
,
free market
,
heritage foundation
,
romina boccia

Linking Here:

https://voat.xyz/v/AnarchoCapitalismhttps://talk.lol/v/allhttps://voat.xyz/v/all
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle