The most significant argument against privatizing Social Security is that
A)Benefits would have to be cut
B)It has not worked in other countries
C)Future benefits levels cannot be guaranteed
D)It is too complicated to be practical
E)Taxes would have to be raised

Question

Quizplus · Accepted Answer

The most significant argument against privatizing Social Security is that future benefits levels cannot be guaranteed. Privatization means that individuals would be responsible for investing their own retirement funds, and the amount they receive would depend on their investment returns. This introduces a level of risk that is not present in the current system, where benefits are guaranteed by the government. If investments do not perform well, retirees could end up with lower benefits than they would have received under the current system.

The Most Significant Argument Against Privatizing Social Security Is That