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Are annuities the high-speed rail of retirement plans?

If people dont want a must have product, must we really have it?

By Chris Carosa | Updated on February 15, 2012

The government has decided to build an 11-mile section of high-speed rail in western New York somewhere between Rochester and Buffalo. There aren’t many passenger trains that go that route and there are no local stops anywhere along that line.

It’s a piece of engineering a few people want and even fewer people will ever use. It’s the classic definition of doing something because we can, not because we need to, of taxing the many for the benefit of the few.

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