The Hill News

You can only raise taxes or increase the retirement age by so much. The problem of too few workers supporting too many retirees will continue to lurk as long as infant mortality rates continue to decrease and life expectancy continues to increase.

The only way to actually solve the problem is to transfer our Social Security taxes into privately managed universal savings accounts. Under such a system, each individual would be responsible for managing his or her retirement savings. Rather than have money bogged down in a low-yield Treasury bill (as currently is the case), an individual could benefit from much higher rates of return in the stock market.

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