Perhaps it would have been difficult to detect a problem in the system back in 1935, when life expectancies and population distributions were much different than they are now. However, I'm almost certain that if you saw a population distribution graph as early as 40 or 50 years ago, you could see a significant problem looming in the future.
The rest of what you said makes a lot of sense, those are some good points. Obviously I didn't sit here and put much thought into the solution I was proposing. So what do you propose? Honestly, in my opinion, the best solution is to abolish the entire system. It doesn't work. Let people make their own decisions on how much they want to save for retirement. If they don't save enough, well tough shit. That might be a little harsh though.
|