Social Securityö (1-2).
Tanner argues that by providing a potentially much higher rate of return, privatization would raise the incomes of those elderly retirees who are most in need. Despite assertions to the contrary by critics of privatization, the current Social Security system is ô...ostensibly designed to be progressive, transferring wealth to the elderly poor. The system actually contains many inequities that leave the poor at a disadvantage. For instance, the low-income elderly are much more likely than their wealthy counterparts to be dependent on Social Security benefits for most or all of their retirement incomeö (Tanner, 1996, 2). Privatization would eliminate such inequities that most harm the poor elderly.
Another benefit of privatization will be to remove the progressive nature of Social
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