RE: Cato Institute - Please read BRAVO!!!

[Javier Jimenez <jimenj@yahoo.com>]

The Cato Institute provides up-to-date information of the greatest
test of the novel idea of privatization.  Chile, the first country
to privatize their government run pay-as-you go system, is now in
its 17th year of privately owned individualy funded retirement
accounts.  Before privatization Chile's pension system operated in
much the same way as ours do.

Chile's transformation has been incredible in those 17 years (read
Cato's case sudy on Chile for all the details) with a high sustainable
annual growth, low unemployment, low inflation, and high levels of
productivity.  All workers enjoy the freedom and security of seeing
their retirement nest egg grow for the future.  Before 1983, Chile
was running the same kind of problems we've had with SS, demographics-
too little contributors too many beneficiaries receiving too many
benefits; the economy was the total opposite of what it is today,
and workers begged for their "fair" share at retirement.  Many
countries around the world are following suit, several other latin
american countries have privatized with great initial success others
are privatizing as we discuss this issue.  Other countries in the
list include Australia, Poland, among others.  But the most striking
of all has to be great Communist China.  It seems to me that
communist China is going to beat us to the punch on this very
important idea that empowers workers to feel the freedom and security
that government has tried and failed to provide.

We have had the current system for approximately 65 years, it has
required countless of reforms, law changes, tax increases, benefit
decreases, etc.  just to keep it afloat.  Well, it seems to me that
the outcome of any additional tinkering we do will in the end result
in more of the same.  We have before us a proven idea, no longer
an experiment, that will not only change the lives of retirees,
but will alter the political landscape in such a way that politicians
will not be able to fool us with empty promises.

All the evidence exist today for us to make an informed decision
whether to continue the failed practices of the past, or move-on
into the future with freedom and security for all workers and their
families,

"It's your money, your choice, your future." Visit the Cato Institute
Project on Social Security Privatization and see it for yourself!

http://www.socialsecurity.org/