Monday, March 07, 2005
Social Security and black boxes.
There's an old joke that goes, "You know how, when a plane crashes, sometimes the only thing that's left is the black box? Well, why don't they just make the whole plane out of that same stuff? Huh?"
Which reminds me of a number of SS-related pro-privatization blogs and columns I've read lately, all claiming how investing money in private, market-driven accounts would absolutely provide a better rate of return than the stodgy, safe, conservative SS system that's in place now.
To such people, I have a simple question: If private accounts can generate a better rate of return, why not just move all of Social Security -- the whole thing, 100% of it -- into these private accounts, and give absolutely everyone the benefit of that better return?
That is the claim you're making, isn't it?