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Author: PMcMullenCT Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5267  
Subject: Re: US Savings Rate Date: 1/16/2001 8:48 PM
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But, that is balanced by the facts that they'll receive a smaller share of the inheritance and their parents probably had less for them when they were growing up; e.g. less money for college, etc.

By that logic, no one generation ever gets any extra benefits or pays extra costs. The generation that paid higher costs, has a reduced burden from elderly parents and gets bigger inheritances. Generations that unerpay into the system, must support their parents and get smaller inheritances.

Since it doesn't matter which generation bearrs the burden, then perhaps we split the cost equally. Lower benefits & higher taxes for the relatively short term until the last benefit is paid.

Either way, it's bad policy to pit one generation against another. By absorbing the costs of transferring to individual retirement accounts now, we can eventually treat welfare as welfare, and social security as retirement savings.

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