Originally Posted by
26 Inf
So how would that happen? Under the current system, in 2018, the total deduction is 12.4% for SSI and 2.9 for Medicare, divided equally between employer and employee, unless self employed.
Would the worker get the entire percentage to invest as they see fit? Or, would the employer not be required to pay in?
I believe one of the problems discussed regarding this plan would be that lower-paid workers would be extremely conservative in their investments and not have enough to sustain them in retirement.
If that is the case, our society being what it is, there would still need to be a safety net.