Charlie Ventura
Active Member
Really? There have been no COLA increases for SS recipients for three years now. Have you checked the price of cotton, coffee, wheat, corn and gasoline lately?Only about half of Chile's workforce actually contributes to that SS plan btw, so the poorest people - who often need help the most - actually fall short of contributions(because they didn't make enough during their lifetime, or made their income "in the Informal sector") to even get the minimum pension of $140 per month.
The only strength of the system seems to be the high rate of return; While the U.S. system keeps pace with inflation, the Chilean system can post gains as high as 10% achieved by the pension funds largely through the purchase of stocks and government bonds.
Also, you asked for a historical example of Austrian economics working. Have you ever taken a look at Hong Kong?
How's the infrastructure in Portland coming along, mame? Rush hour traffic treating you OK? And by the way, mame, while you're waiting in Portland's bumper to bumper rush hour traffic, you might reflect on the fact that its all preplanned by your city rulers in an effort to promote "alternate" forms of transportation. Ain't socialism great?