Peter Ferrara argues that personal Social Security accounts would offer workers more assets and more freedom.
Peter Ferrara argues that Social Security benefits yield a lower rate of return than a typical blend of stocks and bonds. On top of this, it is highly unlikely that Social Security will be able pay all the benefits it has promised. Personal accounts, he argues, are the best alternative to the current Social Security system. Personal accounts would be great for workers, offering them a large asset that could be assigned to family, more choice, and the opportunity to own a portion of the capital stock.