this post was submitted on 27 Sep 2023
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Well, for starters, this obliterates most people's retirement plans, so that's a bit of a hurdle.
That aside, what would happen is private equity firms and investment banks simply buying up most public companies, so I don't really see the grand improvement here.
I hate so much this talking point:
the system has captured the retirements, so we can't abolish it.
Like if we need this load of bull to support retirement, we should rethink everything from the ground up.
The point is that, whether you like it or not, abolishing something that most people are very strongly relying on for the last third of their life is something that's going to be incredibly complicated and met with a lot of opposition.
By all means, re-think away as you like, but don't be surprised when a lot of people aren't exactly a fan of what you come up with.
Provide food and shelter as a human right first, then dismantle everything else, and let people do what they enjoy.