Must Privatization Mean Less Progressivity?

Brief

Must Privatization Mean Less Progressivity?

Abstract

Motivated by the belief that private markets function more efficiently than government, some reformers propose depositing workers' Social Security taxes into private accounts, one for each individual. Although critics fear that privatization will erode Social Security's built-in mechanisms for protecting low-wage workers, a reform package could be designed to include individual accounts while maintaining these protections.

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