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.
GET REASON MAGAZINE
Get Reason's print or digital edition before it’s posted online
- Video Game Nation: How gaming is making America freer – and more fun.
- Matt Welch: How the left turned against free speech.
- Nothing Left to Cut? Congress can’t live within their means.
- And much more.