Is Social Security racist?:
Now consider the people who chip in but never collect. Blacks alive at 30 have a 21% probability of being dead by age 65; the corresponding figure for whites is 15%.
One element of Social Security works in favor of the disadvantaged, although this turns out to be a mixed blessing. Blacks work disproportionately in dangerous jobs, such as in warehouses and on construction sites, and so they wind up getting a better return than whites on the disability insurance fund.
What is to be done? Black families have, outside the Social Security System, much less wealth than whites to cover a comfortable retirement. As a way to attack that problem, commentatorrecommends an opt-out for Social Security. Let workers put their payroll taxes instead into stock funds, she says. They’d have more money for old age.
It’s a complicated analysis, because life expectancies are a function of socioeconomic status as well as of race and gender. The racial gap is starkest for highly educated men: Blacks in this category get a return of only 82 cents on each dollar they invest, while whites get 90 cents.
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