“Eight states, including Illinois, Massachusetts and California, have plans to set up their own programs for the uncovered that will offer guaranteed returns…”
This is the scariest part of the article. Every time I am aware of, wherever price controls are imposed, then that leads to disruptions and shortages. That leads to Venezuela’s collapse, that leads to San Francisco’s housing state of emergency, that even leads to AT&T’s rent seeking approach to innovation.
It sucks to contemplate retiring without any guaranteed income, but it’s safer for society as a whole.
This is the scariest part of the article. Every time I am aware of, wherever price controls are imposed, then that leads to disruptions and shortages. That leads to Venezuela’s collapse, that leads to San Francisco’s housing state of emergency, that even leads to AT&T’s rent seeking approach to innovation.
It sucks to contemplate retiring without any guaranteed income, but it’s safer for society as a whole.