This has some points of merit. The issue with the American system is what happens when you get rocked by no fault of your own despite hard work and initiative. This becomes somewhat more apparent when you are older. Did you randomly pick a career path out of the hat in your 20s which dead ends in a dying sector twenty years later due to shifts unforeseeable two decades earlier? I'm not sure how old you are but there is a path dependency in life and particularly when you have family obligations in both generational directions (caring for children and aging parents) it isn't so easy to just totally change career course halfway through your life. Not impossible - but pretty darn difficult.
Then you need to fear for feeding your family and providing them with medicine. Did you or a loved one get really sick along the way? Tough for you.
Then you need to fear for feeding your family and providing them with medicine. Did you or a loved one get really sick along the way? Tough for you.