COMMENTS:
I think it's bad -- we pay for past generations, and future generations will pay for us. If you want to make an individual account, make one, but not with the money that's going to help others.
The Chimp has run the budget deficit up trillions and has failed to veto even a single pork barrel project proposed by his Republican cronies in Congress. Why should we believe that this idiot will do anything but totally wreck Social Security. Bushie has screwed up everything else he's touched.
Bad. Very bad.
The whole purpose is to provide a guaranteed floor for retirement, for all.
Privatization is merely an enforced 401k without the employer match, with much higher administration costs, and much more prone to graft and corruption.
If a 401k tanks, one still has SS. If the economy tanks while your are dependent on your privatized account ... what happens? The government will allow people to become destitute?
Or they'll bail them out and we'll have three layers of bureaucracy?
Great idea, but the morons in Washington will screw this up. Each person was supposed to pay for themselves but the government squandered the money and now working people are paying for the retired. SS is immoral.
Terrible. They tried it in England and now there's a whole generation of people who are getting about half what they used to get in social security.
Check it out, Mr. Bush. There are other things that really are in 'crisis' in the country - like the healt care system.
by mojo on Thu Feb 03, 05 9:25am
[+]
Full privatization would be the best idea. It is wrong to steal from some to give to others. Again another way for the Government to be in control of our lives and our money. If we wish to help others, we can freely donate at any time. Any Social Security plan should be something you can opt into, and if a government-run plan was my best bet, hell I would. But don't force me to.
Social Security cannot survive without it. People incorrectly believe that Social Security was created for retired people to live off of, but that is not the case. It is a supplement. People should prepare for their retirement and not count on the government to support them. At least if we can choose our own investments the rate of return will be much higher and the system will not go bankrupt. At least President Bush has the balls to tackle this issue that no one else cares about because they won't be around when it goes belly up. It is funny how the democrats said Social Security was in crisis and had to be fixed under President Clinton's administration, but now all of the sudden it is fine and they don't want to deal with it. I guess they don't want President Bush to get credit for an improvement even though it's best for the people.
'The whole purpose is to provide a guaranteed floor for retirement, for all.'
Well at the current rate it's guaranteed to run out of money in a very short period of time.
The ponzi scheme set up in the 40s, when people had 6 kids and died at 60, won't work now, when people have 2 kids and die at 80. If we start killing off the elderly and forcing young couples to have more children it could be made to work again, but that's not terribly likely.
So either we radically restructure it, or pretend nothing is wrong and let the money run out so future generations can inherit a multi-trillion dollar shortfall.
herzog: A usual, you set up an extreme and argue against it.
Did anyone say "Don't make any changes?" Not that I heard.
Not simply changes, radical changes are necessary.
Anything less would be like slapping a fresh coat of paint on the titanic as she's going down.
I agree with herzog. I don't want to pay higher taxes to temporarily extend an outdated plan, until it again runs into a crisis and raising taxes is once again necessary. Instead of putting down this idea, why don't the opposers come up with a better one.
social security is our last safe resort for the elderly and disabled, a noble society with a trustworthy government could manage such an important tradition.
But heck I wouldn't trust our government.. SCREW THE NEEDY, Every Man For Himself!! Fun Times! :p
by Jyl on Sat Feb 05, 05 12:32am
[+]
It's a great idea if you're already rich. It's a terribly shitty idea if you aren't. And lets face it, social security doesn't exist for the rich anyways. Goodbye SS, it was good while it lasted.
Like Meat Loaf sang, "I want my money back!"
We have a fairly volatile economy right now and I don't see it getting any better. If the economy tanks everybody's screwed. They push these private investments because then the gov't doesn't shell out as much money for the SS system. The Bush people just want more money to fund wars with.
I support Bush,,but on this. It is a bad idea. People can't manage their own finances do you really think they can manage their own retirment. It will be a mess.
|
