Republican Senator Marco Rubio introduces a "Paid [sic] Family Leave" bill. But the catch is that you pay for it out of your own pocket, out of your state pension. It gets worse... 1/
"Participants who took one 12-week leave would lose about 3 percent of their future Social Security payments, but parents who took four 12-week leaves over their lifetime would lose 10 percent of their Social Security retirement benefits." 2/
urban.org/sites/default/…
urban.org/sites/default/…
Rubio compares this with the flexibility people currently have to tap into their DC pension pot (401k) to fund parental leave. And, in fact, getting people to conceive of their state pension as more like a 401k pot appears to be one of the reasons behind the proposal. 3/
One advocate of Rubio's proposal writes: "Indeed, encouraging people to think about Social Security’s assets as if those benefits are their property for use now or at retirement could even encourage people to want to move more in that direction..." 4/
"...and transform the current pay-as-you-go system into one that pre-funds future benefits and with assets that belong to individuals." 5/
"...after decades of promoting the idea of partial privatization, at long last, public opinion will undergo a sea change to embrace personal accounts or other substantial Social Security reforms." 6/6
thefederalist.com/2018/02/02/run…
thefederalist.com/2018/02/02/run…
