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Michael Walker with students in Minneapolis (photo: @MPS_BlackMales Twitter account)

Boosting Black Male Student Achievement

The Minneapolis Public School District created an Office of Black Male Student Achievement earlier this year. One goal of the office is to help young African American men graduate from high school in greater numbers.

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in collaboration with Spotlight on Poverty and Opportunity

Privatize Social Security (like Chile has)

File under: personalfinance, taxes

0 (0 votes)

From: Adakin V., Charleston, SC

Please note that "poverty" is relative. According to "The Economist" magazine, what is called poverty in the United States is equal to the same standard of living that the "average" worker in Europe has.

Take a look at this:

http://www.etftrends.com/2009/06/7-reasons-like-chile-its-etf/

Please note item six: "Chile boasts a poverty rate of 13%, down from 39% in 1990."

So what happened in Chile over the past 20 years?

What happened was the maturity of Chile's social security paradigm, where individuals own their accounts -- they invest what would have gone to government-run Social Security into a private retirement account. And when a worker dies, the lifetime of accrued contributions and compounding interest is part of his or her estate, going to heirs and favorite charities.

Just think of the macro-economic benefits to a young family when grandparents die and leave them with enough to pay off their mortgage, or fund their kid's college, or allow them to buy that business franchise, or invest in whatever opportunity avails itself. Just think of the young couple whose grandparents die when they are in their 20s or 30s, and whose parents die when they are in their 50s or 60s. These periodic slugs of capital are outside of this couple's normal earnings. And it's these slugs of capital that blossom into real wealth creation once that family's normal everyday needs are satisfied.

The Chilean Social Security paradigm is the best solution to systemic poverty, because it allows multi-generational wealth accrual.


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American RadioWorks |
Michael Walker with students in Minneapolis (photo: @MPS_BlackMales Twitter account)

Boosting Black Male Student Achievement

The Minneapolis Public School District created an Office of Black Male Student Achievement earlier this year. One goal of the office is to help young African American men graduate from high school in greater numbers.

Recent Posts

  • 01.22.15

    Free Community College for All

    President Barack Obama wants to make the first two years of community college free for what he calls “responsible students” who are “willing to work for it.” It’s being called “America’s College Promise.” This week on the podcast we examine the prospect of free community college for all.
  • 01.14.15

    What’s in a number?

    Our guest this week has a message for high school seniors and their parents who are poring over the latest college rankings lists: Put ‘em down.
  • 12.23.14

    Who’s missing from the achievement gap debate?

    The achievement gap refers to the disparities in academic success between lower-income students of color and their more affluent white counterparts. But according to Quyen Dinh, executive director of the national advocacy organization Southeast Asia Resource Action Center (SEARAC), one group often left out of the conversation is Southeast Asian American students.
  • 01.05.15

    Following the Money in Education Philanthropy

    Philanthropic foundations have been giving money to public education for years. But our guest this week argues that philanthropies are increasingly pushing specific educational agendas.