Word: pay-as-you-go
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...AARP: Butt out! We children and grandchildren are adults who can make our own decisions. And many of us will indeed choose to divert some of our payroll taxes into private accounts, because PRAs are highly likely to generate more money for our pensions than the current pay-as-you-go system will...
...will be the role of tough choices on how to slow the long-term growth in benefits—there are other compelling reasons to implement them. PRAs give Americans greater opportunity to exercise control over their retirement savings, instead of forcing them to buy into the antiquated pay-as-you-go government system. It is this choice that makes PRAs a good addition to Social Security, even if the current system were not in trouble. In addition, the claim that PRAs will hurt Social Security’s finances is wrong. By borrowing to fund PRAs, the government substitutes...
Given the added choice of PRAs, I would choose to divert as much of my payroll taxes as allowed into stock index funds. Others might choose to stay in the pay-as-you-go system or to invest their PRAs in government bonds because of a highly risk-averse nature. That’s the beauty of a system with more choice. In the end, people can choose the level of risk and thus the level of return that suits them best...
...retirees in the near future—Bush seems to be hoping that this white rabbit proposal will distract onlookers from the gobs of federal deficit mounting in his black magic budget hat. Because during the New Deal, the current Social Security system was implemented as a pay-as-you-go plan, in which the current workers pay for the benefits of the retirees, an attempt to privatize Social Security will put the government in a hunt to find $2 trillion to provide benefits for retirees of today and the near future. In a time when every American child...
...Keeping Tabs British motorists began testing a pay-as-you-go auto-insurance scheme using a device that tracks where and when drivers travel, before generating a monthly bill...