McCain Voted for Bush’s 2006 Social Security Privatization Plan. (Congress, generations, politicians)

[sickofnyc]

John McCain Revealed: Retirement Security

Gee, what else do these neocons want to screw us with?

[freefall]

Originally Posted by sickofnyc

John McCain Revealed: Retirement Security

Gee, what else do these neocons want to screw us with?

McCain will throw over the elderly as quick as Bush wanted to in order to give more money to his CEO friends, they are so rich they have no feelings at all for those who will be needing SS.

[Mike from back east]

Originally Posted by sickofnyc

John McCain Revealed: Retirement Security

Gee, what else do these neocons want to screw us with?

The neo-cons want to screw us on EVERYTHING. If we had put a portion of our SS money into private accounts with Wall Street investment houses, we'd be up ***** creek today, big time. The whole idea of privatizing SS is another gimmick to transfer our wealth to the wealthy class for them to play with.

[coastalrap]

Originally Posted by sickofnyc

John McCain Revealed: Retirement Security

Gee, what else do these neocons want to screw us with?

Well at least I agree with McCain on that then.

[KantLockeMeIn]

Originally Posted by Mike from back east

The neo-cons want to screw us on EVERYTHING. If we had put a portion of our SS money into private accounts with Wall Street investment houses, we'd be up ***** creek today, big time. The whole idea of privatizing SS is another gimmick to transfer our wealth to the wealthy class for them to play with.

Yeah... if accounts were privatized over the past 50 years, we would have actually had rights over the money in our accounts versus it being a large Ponzi scheme. We would also would have had an investment which would have paid out more than inflation.

I don't know how many times I have to say it on here before it sinks in.. but until you sell your investments, you haven't gained or lost anything. And purchasing at $10, it rising to $50, and it being worth $30 today is hardly losing money.... your basis is determined from the purchase price, not the high price during the holding period.

And investments in stocks, bonds, and funds through these brokerage houses isn't at risk simply because the brokerage house is failing... your investments are protected. Sure, the value in the short term has declined, but retirement accounts aren't about short term movement, they're about long term strategies.

But if you don't understand these simple principles... please, sell me all of your investments at bargain prices, and let me ride them back up to the top.

[RayinAK]

S.S. should have been privatized long ago. As it is now, new generations of Americans may never see a cent from the S.S. system.

Something else (for the poster of this thread): look at what USPS workers do with their S.S. taxes from their earnings, and so a lot of State employees. I can tell you, but if you do your homework you will understand that a lot of people don't send this tax to the Federal Government. This tax goes into their retirements.

[evilnewbie]

Privatization would of been a GOOD thing... that money would accumulate FASTER than SS payouts... think about what the DOW was two decades ago, even though there is a major loss now, there was a net BIG gain over that time period and still a LOT more than SS will ever be (in fact, they are already talking about cutting SS benefits because it is unaffordable)... one other thing... SS is CONSTANTLY being robbed by Congress to fund a lot crap (i.e. money stolen from you)... with privatization, Congress can't TOUCH your money... in the end, you make MORE and Congress can't touch your money... The politicians like to scare you with "losing" SS but the truth is, you can phase it out and replace it with something that makes more money for yourself.... but that would mean Congress can't overspend by stealing it from your retirement money... so they try to scare you with it... unfortunately, not a lot of people understand it all...