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All the Perl that's Practical to Extract and Report

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Unintended (multi-decade) consequences of private accounts 5 Comments More | Login | Reply /

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  • Your description of the Australian private retirement accounts is interesting. It makes the intermittent US proposals to privatize social security look even more like a scam.

    Achieving socialism by other means is amusing.
    • Please note that:

      1. The government is still the welfare provider of last resort. If your super money runs out during your retirement, you move onto the standard Old Age Pension, fully funded by government. But the standard Old Age Pension is NOT a lot of money. It really is a last resort.

      2. Australia has never really had corporate pension funds like the US, or government "social security" entities. Pensions are funded out of general revenue. That is, out of normal taxes.

      3. This has all been introduced over

      • Maybe if Obama has solid control of both the Congress and Senate...

        The US system doesn't quite work like that. Even when one party effectively controls two branches of government, there are enough checks and balances in place that competing interests still get in the way of perfectly smooth unity of governance and legislation. It's kind of a feature.

        • I understand you don't have party voting and there are subtleties, but I guess I meant that the Dems would have a large enough majority that they would exceed the threshholds despite the normal randomness of the voting.

          So less "Obama" having control perhaps, but rather the Dems in general.

        • Maybe if Obama has solid control of both the Congress and Senate...

          The US system doesn't quite work like that. Even when one party effectively controls two branches of government, there are enough checks and balances in place that competing interests still get in the way of perfectly smooth unity of governance and legislation. It's kind of a feature.

          Indeed. Especially if someone as far to the left on so many policies like Obama gets in the big chair (not that I am going to sit here defending his [potential] predecessor, either, let alone the current or recent Congress).

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