Do liberal/progressives favor of freedom of choice for people under age 55

[healthmyths]

as to where their FICA taxes payments are invested , or do you liberal/progressives think the Federal government knows better where to put under 55 Americans FICA tax contributions?

See this is the real question not that phony Democrat argument that is best summed up by this image:

Or is it summed up best by the people that are looking to SAVE Social Security... STUDENTS?

Students for Saving Social Security (S4) is a nonpartisan organization that educates and mobilizes young Americans on the coming crisis in Social Security.
We advocate the following on college campuses across the country:

Allowing younger workers the option to save at least 4 percent of their payroll taxes in a personal account.

According to the Social Security Trustees, today's young workers can expect no more than 75 percent of promised benefits. Young people should have a choice: those who want to remain in the current system can do so, while those who want to dedicate a portion of their contributions to a personal account should have that option. If structured properly, personal accounts would provide a generationally equitable solution to make up for the expected benefit cuts that likely lie ahead.

Other benefits of giving workers the right to control some of their own retirement money include increased national savings and financial literacy as well as the widespread accrual of inheritable wealth. Personal accounts would give workers the right of property to a portion of their Social Security benefits, a right which the Supreme Court has ruled does not extend to taxes paid under the current system.

No further payroll tax increases.

Social Security began with a modest 1 percent tax on workers and employers. The program now takes 1 of every 8 dollars workers earn, making payroll taxes the largest tax paid by most Americans. The necessary Social Security reform that lies ahead should rule out this costly and ineffective method of addressing unfunded liabilities.

Saving the Social Security surplus through Congressional action.

Social Security currently takes in more money than it needs to pay benefits. Unfortunately, Congress spends the surplus that should be used to fund future Social Security benefits. Legislative protection of the Social Security trust fund will help restore fiscal accountability and budget transparency while acting as a defense against proposed payroll tax increases designed to enable government overspending.

Since our inception in 2005, S4 has been featured by the Wall Street Journal, CNN, C-SPAN and other major news outlets throughout the country. We now have over 11,000 members and chapters in every state.

S4 is a 501(c)(3) nonprofit that relies upon private donations in order to educate and mobilize today's young people. If you are interested in supporting our efforts, please click here.
About - Students for Saving Social Security

So in summary... are you in favor as these students are of LETTING Americans choose if they want to buy the same US treasuries that SS buys and cut out the middle man, i.e. SS that uses the FICA deductions to pay out benefits and with the surplus buy US treasuries.
If it is good enough for the SS Trustees to buy US treasuries why not GIVE the individual the CHOICE of also buying US Treasuries or ANY other investment with their FICA payments.

The choice is "freedom of Choice" versus "status quo" knowing the "Status quo" won't be around for those people under age 55 today when they get to retirement age.

 

[occupied]

Wall Street wants SS and you would give it to them.

 

[healthmyths]

Wall Street wants SS and you would give it to them.

So I take it you against freedom of choice that especially the young people who KNOW it will be gone regardless of what you say!
Here read what the trustees say about that the future of SS.

"However, that report also indicated that well before 2057, program cost would rise above the annual tax income to the program, requiring redemption of trust fund reserves to pay full benefits"..
This means that more money will be needed to pay out then money coming in.
As a result instead of BUYING US Treasuries which money is used to pay Government expenses, there will NOT be money available to buy US treasuries.
These are the harsh realities.
The Future Financial Status of the Social Security Program

DO YOU understand?
THESE ARE HARD REAL FACTS!!!
In 1940, the life expectancy of a 65-year-old was almost 14 additional years; today it is almost 21 years.
By 2035, the number of older Americans will increase from 48 million today to 79 million.
There are currently 2.8 workers for each Social Security beneficiary. By 2035, there will be 2.1 workers for each beneficiary.

In 2013, $726 billion (85 percent) of total Old-Age and Survivors Insurance and Disability Insurance income came from payroll taxes. The remainder was provided by interest earnings ($103 billion or 12 percent) and revenue from taxation of OASDI benefits ($21.1 billion or 3 percent), and $4.9 billion in reimbursements from the General Fund of the Treasury - most resulting from the 2012 payroll tax legislation
Social Security Administration: How is Social Security financed?

So in 2013 $726 billion plus interest from US securities of $103 billion plus other revenue of $26 billion came in to SS. A total of $855 billion coming in..

In 2015, over 59 million Americans will receive almost $870 billion in Social Security benefits.
Payroll taxes for “social insurance and retirement receipts” took in another $1,065,277,000,000 of which 76% or $816,139,637,096 came from SS payments.

Assuming another 15.1% or $123 billion will come from Interest, and other revenue or $123,137,000,000 for a total of

$939,276,494,624 in gross revenue coming in.

$870 billion will go out
in 2015, as over 59 million Americans will receive almost $870 billion in Social Security benefits.
----------------------------------------------------------------------------------
This means less then $70 billion available to buy US Treasuries

The amount of money left over after paying out benefits is getting less and less which is exactly what the Trustees meant when they said:
"However, that report also indicated that well before 2057, program cost would rise above the annual tax income to the program, requiring redemption of trust fund reserves to pay full benefits"..

Every year the Social Security spending has been increasing steadily every year. Back in 2005 Old Age Survivor Insurance (OASI) spending was about $440 billion a year, and Disability Insurance (DI) spending was about $90 billion a year. By 2015 OASI had increased to $750 billion and DI to $150 billion-- $900 billion going out!
Social Security Administration: How is Social Security financed?

In summary... SS will go broke unless it is fixed. Fixed by raising retirement age for ALL people under 55 to 70 years
AND giving people under 55 the freedom to accumulate their own US treasuries!

 

[occupied]

Wall Street wants SS and you would give it to them.

So I take it you against freedom of choice that especially the young people who KNOW it will be gone regardless of what you say!
Here read what the trustees say about that the future of SS.

"However, that report also indicated that well before 2057, program cost would rise above the annual tax income to the program, requiring redemption of trust fund reserves to pay full benefits"..
This means that more money will be needed to pay out then money coming in.
As a result instead of BUYING US Treasuries which money is used to pay Government expenses, there will NOT be money available to buy US treasuries.
These are the harsh realities.
The Future Financial Status of the Social Security Program

DO YOU understand?
THESE ARE HARD REAL FACTS!!!
In 1940, the life expectancy of a 65-year-old was almost 14 additional years; today it is almost 21 years.
By 2035, the number of older Americans will increase from 48 million today to 79 million.
There are currently 2.8 workers for each Social Security beneficiary. By 2035, there will be 2.1 workers for each beneficiary.

In 2013, $726 billion (85 percent) of total Old-Age and Survivors Insurance and Disability Insurance income came from payroll taxes. The remainder was provided by interest earnings ($103 billion or 12 percent) and revenue from taxation of OASDI benefits ($21.1 billion or 3 percent), and $4.9 billion in reimbursements from the General Fund of the Treasury - most resulting from the 2012 payroll tax legislation
Social Security Administration: How is Social Security financed?

So in 2013 $726 billion plus interest from US securities of $103 billion plus other revenue of $26 billion came in to SS. A total of $855 billion coming in..

In 2015, over 59 million Americans will receive almost $870 billion in Social Security benefits.
Payroll taxes for “social insurance and retirement receipts” took in another $1,065,277,000,000 of which 76% or $816,139,637,096 came from SS payments.

Assuming another 15.1% or $123 billion will come from Interest, and other revenue or $123,137,000,000 for a total of

$939,276,494,624 in gross revenue coming in.

$870 billion will go out
in 2015, as over 59 million Americans will receive almost $870 billion in Social Security benefits.
----------------------------------------------------------------------------------
This means less then $70 billion available to buy US Treasuries

The amount of money left over after paying out benefits is getting less and less which is exactly what the Trustees meant when they said:
"However, that report also indicated that well before 2057, program cost would rise above the annual tax income to the program, requiring redemption of trust fund reserves to pay full benefits"..

Every year the Social Security spending has been increasing steadily every year. Back in 2005 Old Age Survivor Insurance (OASI) spending was about $440 billion a year, and Disability Insurance (DI) spending was about $90 billion a year. By 2015 OASI had increased to $750 billion and DI to $150 billion-- $900 billion going out!
Social Security Administration: How is Social Security financed?

In summary... SS will go broke unless it is fixed. Fixed by raising retirement age for ALL people under 55 to 70 years
AND giving people under 55 the freedom to accumulate their own US treasuries!

SS will go broke even sooner if you let Wall Street get their greedy claws on it because they fully intend to steal it if they get a chance. If they are even peripherally involved in some privatization scheme Americans would be better off stashing money under the mattress. If you think otherwise you are a fool.

 

[leftwinger]

This should be an important topic (especially to those under age 55). GWB had some sort of plan to allow younger to privatize some amount and was LAMBASTED by many if memory is good?

Do you want to be "ripped off" by GOVT fraud and extremely costly overhead?
Do you want to be "ripped off" by Wall street fees? (worst case a market crash, is this likely?)
Do you want the GOVT to access your funds and spend however?

 

[healthmyths]

Wall Street wants SS and you would give it to them.

So I take it you against freedom of choice that especially the young people who KNOW it will be gone regardless of what you say!
Here read what the trustees say about that the future of SS.

"However, that report also indicated that well before 2057, program cost would rise above the annual tax income to the program, requiring redemption of trust fund reserves to pay full benefits"..
This means that more money will be needed to pay out then money coming in.
As a result instead of BUYING US Treasuries which money is used to pay Government expenses, there will NOT be money available to buy US treasuries.
These are the harsh realities.
The Future Financial Status of the Social Security Program

DO YOU understand?
THESE ARE HARD REAL FACTS!!!
In 1940, the life expectancy of a 65-year-old was almost 14 additional years; today it is almost 21 years.
By 2035, the number of older Americans will increase from 48 million today to 79 million.
There are currently 2.8 workers for each Social Security beneficiary. By 2035, there will be 2.1 workers for each beneficiary.

In 2013, $726 billion (85 percent) of total Old-Age and Survivors Insurance and Disability Insurance income came from payroll taxes. The remainder was provided by interest earnings ($103 billion or 12 percent) and revenue from taxation of OASDI benefits ($21.1 billion or 3 percent), and $4.9 billion in reimbursements from the General Fund of the Treasury - most resulting from the 2012 payroll tax legislation
Social Security Administration: How is Social Security financed?

So in 2013 $726 billion plus interest from US securities of $103 billion plus other revenue of $26 billion came in to SS. A total of $855 billion coming in..

In 2015, over 59 million Americans will receive almost $870 billion in Social Security benefits.
Payroll taxes for “social insurance and retirement receipts” took in another $1,065,277,000,000 of which 76% or $816,139,637,096 came from SS payments.

Assuming another 15.1% or $123 billion will come from Interest, and other revenue or $123,137,000,000 for a total of

$939,276,494,624 in gross revenue coming in.

$870 billion will go out
in 2015, as over 59 million Americans will receive almost $870 billion in Social Security benefits.
----------------------------------------------------------------------------------
This means less then $70 billion available to buy US Treasuries

The amount of money left over after paying out benefits is getting less and less which is exactly what the Trustees meant when they said:
"However, that report also indicated that well before 2057, program cost would rise above the annual tax income to the program, requiring redemption of trust fund reserves to pay full benefits"..

Every year the Social Security spending has been increasing steadily every year. Back in 2005 Old Age Survivor Insurance (OASI) spending was about $440 billion a year, and Disability Insurance (DI) spending was about $90 billion a year. By 2015 OASI had increased to $750 billion and DI to $150 billion-- $900 billion going out!
Social Security Administration: How is Social Security financed?

In summary... SS will go broke unless it is fixed. Fixed by raising retirement age for ALL people under 55 to 70 years
AND giving people under 55 the freedom to accumulate their own US treasuries!

SS will go broke even sooner if you let Wall Street get their greedy claws on it because they fully intend to steal it if they get a chance. If they are even peripherally involved in some privatization scheme Americans would be better off stashing money under the mattress. If you think otherwise you are a fool.

You know you are REALLY showing your ignorance!

What If You Had Invested $1,000 Invested in the Stock Market 25 Years Ago -- What Would it be Worth Now?
If you were to change the start year to 1985 (25 years ago), and change the initial investment to $1,000, the spreadsheet would calculate an ending amount of $14,143.
Observations: How Much Would $1 Invested in the Stock Market in 19xx be Worth Now?

Now HOW MUCH MONEY is all the stocks in public held companies worth today?

United States $15,640,707,100,000 because YOU are so f...king dumb... This is $15.6 TRILLION that is the market capitalization of Listed companies in the USA.
Market capitalization of listed companies (current US$) | Data | Table

NOW you idiot! If this is a GAMBLE tell me why people have been investing for the last 119 years?

1. 
   While the DJIA first appeared on May 26, 1896, it did not appear in the Wall Street Journal regularly until October 7 of the same year.
   The starting point for the DJIA was 40.94, a far cry from the 17,910 average in November 6,2015. An average annual growth rate of the DJIA of 376%!!!
   www.businessnewsdaily.com/3342-dow-jones-industrial-average.html
   
   IF this is such a risk why are 48% of all Americans invested in the RISKY stock market??

FINALLY YOU f...king stupid idiot!!!
IDIOT!!! The "privatization" of SS does NOT MEAN people would ONLY be able to invest in the stock market you dumb f...!
YOU wouldn't because you are too stupid... BUT even the least knowledgeable person would HAVE the CHOICE of putting their accumulation in their local bank.
Their local community OR do as the SS does with your stupid ass payments... THEY buy US TREASURIES !!! NOT the stock market!

And anyone with a "privatized" SS directed investment account WOULD BE ABLE TO INVEST IN THE SAME US TREASURIES!!!
Cutting out the middle man...i.e. SS!

But of course this way way over your simple brain.

Every person who would be eligible i.e. under age 55 by the way... would have the FREEDOM of CHOICE to keep exactly as it is now OR
direct the SS to invest into their local bank. Local S&L or buy TREASURIES!!!

For once do you comprehend that???
A) If the STOCK market was a risky as you ignorantly portray then why is it worth $15 trillion today?
Why did the DJIA AVERAGE grow 376% each year over the last 119 years?
B) Why are 48% of all Americans invested if it is SO f...king risky???