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i would agree , I WOULD LOVE THE OPTION. but the flip side is AMERICANS don't know what THEY don't know.
from what i have seen many would do what they do with their 401k money which is basically loose it due to thinking they can market time or panic in down turns..my opinion is much of america is better off not getting their hands on it.
Isn't that what America is built on? Personal choice and not let govco control everything? I mean shoot. I'm not going to change my own brake pads because I don't know what I'm doing, however i have the option to do it if I want....(you could fill in the blank with anything..) We have a mess with Social Security and its an option to help people better themselves...
How wrong would it be for say 5-10% of your SS benefits to be allowed to invest differently than what govco does?
To be honest much of the public is to stupid to handle their own money.
Most of america knows very little and has little interest in learning.
They know more about their cars and refrigerators.
While i would have loved to have my own ss taxes to invest it really is not in the best interest to turn that money over to the general public to invest.
Just look at the ibbotson and morningstars data on small investor returns.
Agree 100% Mathjak107.
Additionally, if an option to invest were offered, the smart ones would do well, while the not so smart ones could lose it all, and then still want some type of benefit.
Isn't that what America is built on? Personal choice and not let govco control everything? I mean shoot. I'm not going to change my own brake pads because I don't know what I'm doing, however i have the option to do it if I want....(you could fill in the blank with anything..) We have a mess with Social Security and its an option to help people better themselves...
How wrong would it be for say 5-10% of your SS benefits to be allowed to invest differently than what govco does?
reality is only 5-10% would not make a hill of beans difference in my opinion. it is like the city data folks who brag about their stocking picking skills but don't have enough money invested to make a bit of difference as all the rest is in cash instruments..
Couple things...They should privatize some portion of social security for younger people. Bush II brought that up a couple yrs ago, but then you had Shumer and others on the left demagoging the issue talking about throwing money away..
Give me the CHOICE to invest a portion of that money. Govco thinks you are all too stoopid to invest....
Also, get rid of the upper income limit for taxing SS. Who the hell needs SS if you are making more than $110K and you are older than 65? SS was created as a floor, not an enhancement....some will not like that, but its the truth.
There actually was interest from the public in Bush's plan-----------------------UNTIL Bush started giving those "pesky" details while traveling the country to sell the idea.
Mainly, the cost of $3 TRILLION to make the transition.
To be honest much of the public is to stupid to handle their own money.
Most of america knows very little and has little interest in learning.
They know more about their cars and refrigerators.
You are right! I wouldn't say stupid but ignorance. You know, I have some friends/family memebers that really don't understand how important 401K is and thats the only means for the normal working folk to retire on.
TMainly, the cost of $3 TRILLION to make the transition.
A lot of such proposals are touted on how they benefit certain people but have always been insidiously damaging to others, or even those same people, but in another aspect. The problem is that so many people are working from some comparatively petty end-result they want (like paying less in taxes) and never consider the matter from a constructive, well-founded, and humane perspective. Social Security and Medicare exist for specific purposes, purposes that have primacy. You can tell those purposes have primacy because no one is willing to embarrass themselves touting the benefits to society from (for example) letting poor people die in the streets, increasing infant mortality, etc. Therefore, the only defensible path to reform is to work from that foundation (not against it), demonstrating how a different mechanism will still fully achieve the purposes, but perhaps more efficiently. Respecting the overriding priorities is generally too hard of a challenge to those who just want to achieve the comparatively petty, personal advantages.
To be honest much of the public is to stupid to handle their own money.
Most of america knows very little and has little interest in learning.
They know more about their cars and refrigerators.
While i would have loved to have my own ss taxes to invest it really is not in the best interest to turn that money over to the general public to invest.
Just look at the ibbotson and morningstars data on small investor returns.
I agree.
In the late 80's I worked at a plant making boats ( 600 employees,good wages and benefits )
The company matched 401 at 50% up to employee's 6% contribution.
There was a young guy who was brainwashed by some company ( EL Williams ????? )
Anyway, he would spend his lunchtime urging co-workers to drop their 401 and invest with him.
So many workers did,that the company called a meeting to inform the workers that a 50% match meant a 50% return without their 401 making money on the market.
Additionally, if an option to invest were offered, the smart ones would do well, while the not so smart ones could lose it all, and then still want some type of benefit.
You had a third option which was leave it alone just like it is. You didn't HAVE to change it.
If its truly there for protection, then why do wealthy people receive SS? Someone please explain that...
And please do not say "we pay into it"
I just am curious to hear people's responses. I'm not against creating a floor for the people who "need" it.
So you just want to steal it from them and not even ACT LIKE they are getting a return?
(no "we" here.... I'm not rich)
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