Chile Forum

Chile is popping up in the news:

Republican candidate Herman Kahn who just won the Republican straw poll in Florida points to the Chilean social security system as a model for fixing the US system.

http://thecaucus.blogs.nytimes.com/2011 ... traw-poll/

"...
ORLANDO, Fla. — Herman Cain, the former chief executive of Godfather’s Pizza, won the Florida straw poll today, defeating second-place Rick Perry after the Texas governor worked the crowd of activists with a breakfast speech Saturday morning.

Mr. Cain won nearly 40 percent of the 2,657 people who voted, more than doubling Mr. Perry’s total and that of Mitt Romney, who came in a close third.
...."

http://motherjones.com/mojo/2011/09/her ... -explained

"....
For the second consecutive Republican president debate, pizza mogul and talk radio host Herman Cain has suggested the "Chilean Model" as a way to fix Social Security. Never mind that it's Medicare, not Social Security, whose runaway costs pose a long-term threat to the nation's fiscal health—what the heck is the Chilean Model? And do we want it?
...."

The Chilean pension system would make Wall Streeters drool in envy, can you imagine those guys with the mandated forced savings of the American people. It is different when your discretionary post tax dollars are slapped into their mutual funds , but having them run hard and fast with your pension without oversight!!! Canada’s Pension Plan is invested by the government with massive oversight, the US social Security is a cost not something that has any capital in it, well not anymore. The idea of putting the onus on the individual to save is great and it removes them as a cost to the state after retirement.

nwdiver wrote:The Chilean pension system would make Wall Streeters drool in envy,

It's not working out so well in payoff for most chilenos, however. It held considerable promise, but the implementation and outcomes have not been optimal. Much previous foro discussion on the subject.