Thursday, June 16, 2005

Social Security

Noumenon sent me an article as a followup to my social security post. You can get it from the grey lady. I've read the article by Phillip Longman that he referred to. The best quotation from it is "Governments must also relieve parents from having to pay into social security systems. By raising and educatng their children, parents have already contributed hugely (in the form of human capital) to these systems. The cost of their contribution, in both direct expenses and foregone wages, is often measured in the millions. Requiring parents to contribute to payroll taxes is not only unfair, but imprudent for societies that are already consuming more human capital than they produce." Longman, Phillip. "The Global Baby Bust." Foreign Affairs. Vol. 83 #3. (New York: Council on Foreign Relations, May/June 2004): 78.

2 Comments:

Anonymous Philosopher Poet said...

That seems like a good idea to me. But then again I'm biased.

3:52 AM  
Blogger Octavo Dia said...

Of course, with your one baby squirrel, you haven't hit the replacement rate yet--you're just slowing the tide. How about you get to keep one contribution per child. So baby squirrel would let you keep your contribution, the second squirrel would give you the employer half, and so on. Of course, with such an arrangment, social security would begin paying out a lot sooner. Regardless, sooner or later someone is going to have to pay in more than they get out.

4:01 AM  

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