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The issue really comes down two issues:
1) paying for a transition
2) demagogues on the left
Any rational and intelligent person will realize that the private sector can do a far better job at providing retirement investment plans than the federal government.
As far as the safety of investing the money, most people are basivally financial idiots. Limiting the investments to quality indexes will provide an extremely safe investment that will provide better yields than Social Security could ever do.
With a clear path to privatizing Social Security, the issue of the transition has to be addressed. It will be very expensive. Who will pay for this?
Then there are the demagogues. People opposing Social Security privatization will not engage in rational discourse. They will fearmonger the issue.
I want to see Social Security privatized, but the 1-2 punch of paying for the transistion, and the American illiberal left may be just too much to advance the issue.
ETA that professor really didn't say anything. He just said that there is a problem, that it has to be addressed, and then refused to mention any potential solutions that he supports. Not much of an opinion.
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