Writes Mark Brady to the Financial Times: “Sir, I was interested to read Jagadeesh Gokhale’s discussion of the financial impact of the privatisation of Social Security (‘Why America needs Social Security reform’, November 30). However, his article provides no defence of the proposal to allow workers to deposit part of their payroll taxes in personal accounts. This proposal has long been advocated by the Cato Institute at which Mr Gokhale is a senior fellow. “I suggest that reducing the benefits and raising the minimum age at which retirees are entitled to claim Social Security benefits would both reduce obligations (at … Continue reading A Response to ‘Privatization’