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First, the payroll tax distorts the supply of labor and the type of compensation sought by workers. These losses are inevitable because of the low return implied by the pay-as-you-go character of the unfunded Social Security system. Second, the system reduces national savings and investment. Privatizing Social Security, transforming it from an unfunded pay-as-you-go system to a system of mandatory private savings accounts, would solve both of those problems and increase economic growth...

Privatizing Social Security, transforming it from an unfunded pay-as-you-go system to a system of mandatory private savings accounts, would solve both of those problems and increase economic growth." (Feldstein)

As Social Security stands right now, the rate of return to the individual is only 2%.

With a shift to privatized accounts, individuals will be free to invest some of their money in order to accumulate wealth instead of pouring 12% of their overall income into the Social Security system...

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American Federation Of Labor And Industrial Workers Of The World Compensation System Morgan Stanley’s Return on System NonInvestment Payroll System Social Security Reform: Increasing Taxes and the Retirement Age Workers' Compensation in California Workers' Compensation How Labor Market Equilibrium Is Affected By The Supply And Demand Of Labor Internet Payroll System Retirement Revamping Demographic Breakdown of Unemployment and Non Labor Force Workers in the Nation Immigration and workers compensation school social workers Unions: Job Security or Job Losses Memorandum for Security Type That Is Associated with Each Level of the Open Systems Interconnect (OSI) Model

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