Oddball
Unobtanium Member
You can't be fool enough to really believe that.0.5 percent
Universal participation and the absence of means-testing make Social Security very efficient to administer. Administrative costs amount to only 0.5 percent of annual benefits, far below the percentages for private retirement annuities.
Regardless, the comparison to private annuities is bogus, as the 12+% of our total incomes put into annuities would have us all millionaires, when projected over a lifetime of work and wealth accumulation....Social Security is chump change in comparison.