Next time you go to your bank pick up some literature about IRA's, they will have a chart in there that shows how much money you could accumulate if you put a certain amount of money in at a certain age.
As an example, if you put in $2000 per year starting at age 18 until you were 24, that's 6 years, and let it ride, by the time you are 65 figuring in an annual 8% yield, you would have over $1,000,000 in that account.
In the United States there are around 4,000,000 babies born per year, the stats don't say how many of them are illegal, however, what if we were to put $8,000 into a privately run IRA account for each child born, this would cost tax payers roughly $32,000,000,000 per year, peanuts compared to what entitlements will be costing in 25 years, if we did this, the owner of the account would realize approximately $1,850,000 at age 60, assuming an 8% yield. There could also be a dividend payment of $8000 per year that could be used for health coverage, figuring in health insurance costs of $667 per month, couple that with the FAIR TAX, which eliminates any type of capital gains taxes and you have a solvent senior class of citizens.
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