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Fixes the whole problem. Social security isn't to bad of a system. We should increase the retirement age now. But the simple fact is that if congress didn't spend the ssi tax money, social security would be fine
Fixes the whole problem. Social security isn't to bad of a system. We should increase the retirement age now. But the simple fact is that if congress didn't spend the ssi tax money, social security would be fine
Its a criminal system, making individuals and families poorer so some one else can sit on the porch.
Fixes the whole problem. Social security isn't to bad of a system. We should increase the retirement age now. But the simple fact is that if congress didn't spend the ssi tax money, social security would be fine
Its a criminal system, making individuals and families poorer so some one else can sit on the porch.
You are exactly right. We sent Bernie Madoff to prison for running the exact same scheme Social Security is based upon. Apparently in the minds of liberals when private individuals run a ponzi scheme it is "bad," but when government runs a ponzi scheme it is "good."
I would like to control my own account, after all its my money. I want to control how much I want taken out and when I want to retire and have the option to pass my retirement to my love ones in my terms and not have a bunch of red tape by the government.
My dad died at age 52 a month before I turned 18 years old, the government only gave me a check for $2,500 from his investment and kept the rest and my dad has been working full time since he was 18 years old paying into the government's social security system......he and his family never got what he invested in the system or what the government took by force.
That is exactly what the government wanted when they invented this scheme. When SS was first enacted, the life expectancy was around 62. They assumed that most people would die before collecting a dime. Back in those days, the SS tax was only 1% of your income because hardly anyone got any "benefit".
Now the program is broke and the government is looking to raid private 401K accounts to make up the shortages.
We already did that, until the Democrats decided to raid the Social Security Trust Fund in 1968 and put the entire thing under the General Fund to pay for LBJ's "Great Society." Since 1968 every Democrat and Republican in Congress has been spending Social Security tax revenues on everything BUT senior citizens.
Give people the opportunity to pull their money out of the government system and allow them to put their money into the private sector, and you may be on to something.
Why do you have a problem giving people a choice? Give them total control. It is their money after all. I think the federal government has absolutely no business imposing itself into my retirement. Social Security is nothing more than a ponzi scheme. A method to rob Peter to pay Paul. Nothing more. The sooner it is either abolished or completely bankrupt, the better.
I was figuring that this would be a good balance to preserve some of the wealth building even with a massive stock collapse.
Democrats struck a chord with people to not "gamble" away SS when both Clinton and Bush suggested some limited stock investment options.
Fixes the whole problem. Social security isn't to bad of a system. We should increase the retirement age now. But the simple fact is that if congress didn't spend the ssi tax money, social security would be fine
What would you invest that money in if you wouldn't buy US Treasuries with it? It would have been a poor idea to just leave 100% of it in cash and let inflation eat it away - or no?
I was figuring that this would be a good balance to preserve some of the wealth building even with a massive stock collapse.
Democrats struck a chord with people to not "gamble" away SS when both Clinton and Bush suggested some limited stock investment options.
The only way out of those Social Security quagmire is to allow people to manage their own Social Security Accounts.
Those who want to remain on the government program, can. Those who want to invest their Social Security contributions in the private sector, can. Those who want to do both, can.
Every individual contributor would know their own Social Security balance and how it was invested.
I would wager, like in Chile's case, within a decade only a very small percentage of people will remain on the government Social Security program. Meanwhile, with the Social Security investments in the private sector by the overwhelming majority will cause the economy to boom like it never has before. A booming economy also produces a significant increase in revenue for local, State, and the federal governments.
As it stands now, Social Security is the single largest federal expenditure, accounting for 34% of the total federal budget, and growing.
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