I'll agree this would be more "comforting", but where do you plan to get those "increasing percentages"?The population of retirees without such private accounts would reduce over time through attrition. With each passing year, new retirees would have held these accounts with compounded returns for increasingly longer periods of time, replacing more and more of the benefits that must be provided to them.Someone who is 55 when private accounts are created, will have only 10 years of compounded interest on that account, and will likely still require some level of SS benefit. However, an individual who was 30 at the time of the program's creation will have 35 years for those assets to grow, and might have his SS benefits completely replaced by income from that private account. As older retirees, who received 100% SS benefits, die, they are replaced by new retirees who will have their benefits reduced by amounts equal to the revenue on their private accounts.Retirees will be increasingly supporting themselves via private accounts. As fewer benefits must be paid by the government, more SS taxes can be diverted into private accounts.
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