Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve

America Can Fix This Lousy Deal for Workers

August 29, 2017 By E.J. Smith - Your Survival Guy

Writing at International Liberty, Dan Mitchell a senior fellow at the Cato Institute, says that Social Security isn’t only basically bankrupt, it’s also a “lousy deal for workers.” He writes:

The part of the crisis that generally is overlooked is that the program is a lousy deal for workers. They pay record amounts of tax into the system in exchange for a shaky promise of a modest monthly check. For all intents and purposes, they are being charged for a steak, but they’re getting a hamburger (with Medicare, by contrast, people are charged for a hamburger and they receive a hamburger but taxpayers pay for a steak that nobody gets).

For groups with lower-than-average life expectancy, such as poor people and minorities, Social Security is even worse. They pay into the system throughout their working lives, but then they don’t live long enough to collect a decent amount of benefits.

I narrated a video that was partly focused on how people could have more retirement income if we shifted to a system of personal retirement accounts, but this video from Learn Liberty directly addresses this issue.

Read more here.

Related Posts

  • Can America Afford the Green New Deal?
  • How to Fix America
  • America Can't Fix the Middle East
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Buying A Boat: Who’s Looking Out for You? - August 12, 2022
  • Your Survival Guy’s Favorite Number is 72: Here’s Why - August 11, 2022
  • BLUE STATE BLUES: There’s No Way Out of This for Democrats - August 10, 2022

Dick Young’s Must Reads

  • DONBAS: Russian Tanks Face Gauntlet of Death from Javelin Wielding Ukrainians
  • Globalism Has Made America Dependent on Foreign Countries
  • To Me There Isn’t a Better Way to Live
  • The Masters of the Universe Align Themselves with CHINA Using YOUR Money?
  • Joel Salatin and Alfie Oakes, America’s Food Kings
  • 751 “No-Go” Zones in France
  • Your Survival Guy’s 2022 Super States: #1 New Hampshire
  • V4 Stands Against North African and Middle Eastern Invasion
  • The Common Ground of Democracy is Sinking Beneath Americans’ Feet
  • YOU DESERVE FREEDOM: Your Hard Work Will Make It Happen

Disclosure

RSS Youngresearch.com

  • Buying A Boat: Who’s Looking Out for You?
  • Is It Time to Talk About the Defects of Index Funds Now?
  • Your Survival Guy’s Favorite Number is 72: Here’s Why
  • Disney Catches Netflix in Streaming Wars
  • PRIMARY RESULTS: Pro-Trump Candidates Clean Up
  • Prices for Electric Vehicles Going UP
  • Europeans Closing Businesses Early to Save on Energy
  • Your Retirement Life: Let the Slow and Steady Be Your Way of LIFE
  • Resilient Nordic Market Spawns Fast Growing Offshoot
  • If the Phone Doesn’t Ring…It’s Me

Is Merrick Garland Taking the Blame to Protect Biden?

Our Commander-in-Chief Fumbles On

Buying A Boat: Who’s Looking Out for You?

DOJ Career Officers Disgusted by Garland’s Political Raid on Trump

Dick Young’s Investing in Fine Wine

If It Smells Fishy … ?

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives