Comment

Cain's "Chilean Model"

2
A.M. Mora y Leon10/01/2011 10:02:34 pm PDT

That’s not what this is about. Do you like a $55,000 pension from your Social Security contributions? Or do you like a $18,000 pension from the same amount of money, stealable at any time with zero legal recourse if it is. Social Security is neither social nor secure. Politicians on both sides have been using it as a slush fund for years, taking our real contributions and leaving behind with worthless IOUs (non-recourse bonds which are the lowest grade you can get.) None of this has anything to do with Pinochet. It has everything to do with our future. Your choice - $18k with no guarantees, or $55k with full property rights?

If Pinochet is the whole story, ask yourself why Chileans have not gotten rid of the system through five socialist governments that followed him? They certainly had the chance to do that. Ask yourself why they didn’t?