1) How do you justify that contribution to private pension systems are so much lower that SS payroll taxes (i.e. SPSP 3% minimum contribution up to 7.5% voluntary), and their benefits are much more generous?
2) Why would cost under a system of PRAs be higher than the present custodian cost for IRA and 401k accounts?
3) Why not provide workers the choice of completely opting out of SS into a system of PRAs? Those workers that believe in SS could stay in the system, and those that do not could switch to their own. I believe this to be the democratic solution.
