The Institute for Policy Innovation gives us five reasons to support reforming Social Security now:
1) Not doing anything will cost our children and grandchildren more than revamping the system now;
2) The changeover would pump $800 billion plus into the economy. That’s more than 7 percent of the country’s economy.
3) All of this economic activity means government revenues, which would help offset residual costs of the transition.
4) Every worker would have a stake in this country with their retirement plans. Even lower-income workers could amass millions over a 40-year career.
5) Because workers would have their retirement investments riding on the acts of Congress, citizens could and would exercise their right to self-governance more vigorously than ever. It’s called democracy.
