Can OASIS Beneficially Function as a True Retirement Plan?
The proposal to modify the present Social security system so it functions as a proper investment vehicle for retirement is not revolutionary. OASI has the capability to provide a pension for retirees that has more security, gives a larger return and has more advantages than private industry can provide. More security results from the strength of the government system and its opportunity to invest in specialized government long term bonds. The increased return is due to the ability to purchase government instruments without commission and to manage the large pension system with economies of scale, less administrative costs and at no profit. The added advantages allow quickly adjusting retirement benefits according to family status, inflation trends and total income. Establishing Social Security as the first tier of a retirement plan will eventually succeed in lowering the FICA tax. As the general tax revenue used to offset the Social Security deficit is reduced, the added income can be
