1) The inflation-adjusted amount is much less and not sufficient to fund current retirement payments
2) It is expensive during the transition for the current pensions that still need to be paid for
3) It creates winner and loser birth cohorts if the market returns are used to fund the pensions
4) It looks most appealing at market tops. George Bush proposed privatizing Social Secuirty right before the 2008 crisis
5) It the income tax code is working correctly, then the government already owns a large share of the retuns of all the ETFs
@RichardvReeves In the uk students are admitted for specific areas of study, have typically already studied them intensively for two years, and do not have the same distribution requirements.
@dc_lawrence@BritishProgress First-year revenue positivity may matter less now than it did when the report was written.
This is a near-term reveue reduction that the markets would probably be ok with if the PDV of revenue is higher than under current law.
@dc_lawrence@BritishProgress Stamp duty is so much higher than the property tax there has to be something hidden that they are understating in the beginning.