Private Alternatives To Social Security in Other Countries
Sunday, October 01, 1995
by Peter J. Ferrara, John C. Goodman, & Merrill Matthews Jr.
Social security programs in most countries, including the United States, follow the model first adopted in Europe: they are financed by mandatory payroll taxes and provide benefits to current retirees. A financial crisis facing these pay-as-you-go systems is approaching rapidly as fertility rates decline and life expectancies increase worldwide.
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