If the private sector is better?
Why can't it compete with the government and provide better wages than welfare.
Better healthcare than medicare and Medicaid.
And better retirement plans than social security.
The private sector is better...but some how the government is still able to compete with them in these areas.
I am a stupid liberal...and the solution seems simple to me...create an economy with higher wages, better benefits, and better pensions.
Explain to me how we can help the private sector solve its lack of competitiveness in these areas?
- 8 years agoFavorite Answer
The private sector is non-competitive in many areas, but Social Security isn't one of them. There is a privatization blog which discusses the pluses and minuses of privatization, and I can provide it to you if you email me here.
According to the Trustees of the system, Social Security is 20.5 trillion short. It is not possible to say that it does a better job than a private business because a private business would have been shutdown.
According to the Social Security Administration, the system now delivers a negative return. Their estimates seem to overstate real returns. There is no product in the private sector which delivers a known negative return.
You are probably using the wrong benchmark. 401Ks and IRAs are not a competitive product with Social Security. Social Security is insurance - risk management. It is not a savings vehicle like a 401K or an IRA. One compliments the other rather than competes with. One is eggs and the other is bacon.Source(s): www.FixSSNow.Org
- 8 years ago
The Government takes from the private sector and gives it to people on welfare.Source(s): That should answer everything you just wrote there.