April 27, 2005
The pension reform road we didn't take

What if the US had adopted personal retirement accounts as Chile did, rather than adjusting taxes upward and benefits downward, back when both countries' social security systems faced financial problems back in the early '80s? NY Times columnist John Tierney compares his prospective checks from the Social Security Administration to a childhood friend's Chilean pension. Guess who's way ahead?

Hat tip: Aeon J. Skoble at Liberty and Power.

Posted by Lawrence H. White at 11:00 AM  ·  TrackBack (3)

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