Jeb Bush: Next president should privatize Social Security

[OohPooPahDoo]

holding their hand and wiping their ass while they're at it.

I don't think you get how a life annuity works.

 

[OohPooPahDoo]

Imagine everyone's surprise when they discover government spent all the freaking SS money.

There's nothing surprising about it at all, SS is paygo and has been since inception.

Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

Congress sells its IOUs all the time. If I'm not mistaken, its every Tuesday. Holy Lord you can't seriously be this stupid.

 

[LoneLaugher]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

With what? I thought the government took all of your money?

 

[FA_Q2]

Jeb sounds just like his brother!

Why the 2005 Social Security Initiative Failed and What it Means for the Future

Within weeks, observers noticed that the more the President talked about Social Security, the more support for his plan declined.

And therein lays the issue.
It is politically idiotic for him to publically adopt ANY Bush policy when his largest hurdle by far is separating himself from his brother. I have no idea why he would do something so idiotic – he MUST know that this is unpopular AND that his brother also spoke on the matter.

 

[FA_Q2]

At least give me the option.
I've done well "gambling"on the market.

"Gambling," Jefferson once said, "is a tax on the willing.."
Since games of chance REQUIRE many, many losers for the one "winner," the bit of money in retirement from SS is NOT the time or funds to go gambling.

Your first problem is a complete and utter ignorance on the stock market highlighted by the fact that you think it is 'gambling.'
One of the advantages in a privatized system is that people might actually get some exposure in the market and dispel that asinine idea that owning a piece of something is akin to gambling.

BUT omg HOW DARE someone suggest ss being privatized.

Let us know how we're going to pay for that.
Thanks.

That is why such a system needs to be phased in - they spent the money SS had brought in so there is nothing there to privatize but plenty of benefits owed.

 

[FA_Q2]

It should be privatized and people be able to invest their money in a limited fashion. SS does not even give someone enough to live on let alone create real wealth for the one that is paying for it. There are many benefits a privatized system would have not the least of which is the possibility of passing that asset down to your children should you not utilize all of it.

 

[Claudette]

It should be privatized and people be able to invest their money in a limited fashion. SS does not even give someone enough to live on let alone create real wealth for the one that is paying for it. There are many benefits a privatized system would have not the least of which is the possibility of passing that asset down to your children should you not utilize all of it.

Yup and they should take it out of the general fund and leave it the hell alone.

There was billions in SS before LBJ needed money for the Vietnam War.

That fucking idiot put SS in the general fund and they've been robbing it blind ever since.

Of course they don't raid they're own SS, just ours.

Both SS and Medicare are programs that never, ever should have been created. They are giant Ponzi scheme.

Hell. If I could I'd take every dime I have in those programs and invest it.

I can take better care of my money than some clown in DC who doesn't give shit one about anyone's retirement but their own. Paid for by we the taxpayers.

Assholes every one.

 

[CrusaderFrank]

It's a good idea to keep our money out of the hands of dictators like Obama who threatened to withhold the checks and drive our seniors to destitution unless he got his way.

We don't own any assets in the "trust fund". The only " asset" is a special Treasury bond that -- are you ready for this-- can only be sold to the US government!

 

[NYcarbineer]

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

The Social Security Trust Fund is invested in US treasuries, the safest investment in the world.

 

[Skull Pilot]

Jesus christ, what is wrong with this nut?

"
WASHINGTON – Jeb Bush thinks the next president will need to privatize Social Security, he said at a town hall meeting in New Hampshire on Tuesday – acknowledging that his brother attempted to do so and failed. It’s a position sure to be attacked by both Republicans and Democrats.

Bush has previously said he would support raising the retirement age to get Social Security benefits, a common position among Republicans. And he backed a partial privatization that House Republicans have proposed that would allow people to choose private accounts.

The future of Social Security has become one of the most hotly contested issues in national politics, and both parties have accused the other of threatening its survival. Republicans argue that Democrats’ refusal to change the program will lead to its bankruptcy. Democrats sayprivatization would kill the program and leave elderly Americans at the mercy of the stock market. Plus, any discussion of changing the system often creates fear in older Americans beyond or nearing the age of retirement, who also tend to vote in the greatest numbers.

Republicans have split on the answer to fix the program, which could begin to pay out more than it takes in as more baby boomers retire and younger generations aren’t able to pay enough into the system to keep it going. Understanding the fear privatization proposals create, some Republicans have argued that the retirement age should be increased or means-testing established instead. Many Democrats advocate raising the ceiling for the tax that funds it.
"

Jeb Bush Next president should privatize Social Security
The one good thing is, he will never get elected now..

Yeah god forbid people control the 15% of their lifetime income and actually be able to retire financially secure instead of the government stealing it for their off the books slush fund

 

[Skull Pilot]

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

The Social Security Trust Fund is invested in US treasuries, the safest investment in the world.

And the lowest ROR.

 

[Skull Pilot]

if those getting ready to collect SS had put that money AWAY for themselves. they'd probably have a nice nest egg to live OFF OF. But since you gave it OVER to this Government, they now have to WORK until they are 90 because someone sure as hell can't RETIRE ON THE PIDDLE amount they are going to get back.

Pathetic, might as well tell all people living in poverty (More then half the world) that it is their fault, that they should have worked harder or invested in stocks.. Oh wait, idiots like you spew that garbage all the time.

What's "half the world" got to do with social security ?

 

[C_Clayton_Jones]

“Jeb Bush thinks the next president will need to privatize Social Security, he said at a town hall meeting in New Hampshire on Tuesday – acknowledging that his brother attempted to do so and failed.”

The notion is just as ridiculous today as it was in 2005, one of the many reasons why it failed.

And a president can't 'privatize' Social Security – that's Congress' responsibility, which it won't do and shouldn't do.

 

[Skull Pilot]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

You don't understand investing if you call it gambling.

FYI the market has yielded a 10% return over its existence

 

[Skull Pilot]

I guess if you're stupid or gullible thats sound advice.

So, your moronic "solution" is that when retired folks in their nineties, STILL need to look at the stock market every morning to see if there's enough to eat with on that day?

Wow stop talking you are just illustrating your ignorance.

Why don't you look up investment strategies for retirement you'll find that the closer one is to retirement the less of their money should be invested in equities

 

[Skull Pilot]

It should be privatized and people be able to invest their money in a limited fashion. SS does not even give someone enough to live on let alone create real wealth for the one that is paying for it. There are many benefits a privatized system would have not the least of which is the possibility of passing that asset down to your children should you not utilize all of it.

The thing is the government doesn't want to have people financially independent.

The more people who need government the better

 

[NYcarbineer]

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

When you buy a savings bond for your kid, you get an IOU from the government. When you put cash in a money market account, in most cases you're getting an IOU from the government. When you invest in municipal bonds, you get IOU's from the government.

 

[Skull Pilot]

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

When you buy a savings bond for your kid, you get an IOU from the government. When you put cash in a money market account, in most cases you're getting an IOU from the government. When you invest in municipal bonds, you get IOU's from the government.

Why would anyone buy a savings bond?

You'd be better off putting that money into a mutual fund for your kid

 

[Skull Pilot]

Hey Sheep do some math.

Take 15% of your lifetime income and do a calculation of how much you would have if you got a 7% return on that over your life time then tell me that SS is a better deal

 

[NYcarbineer]

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

When you buy a savings bond for your kid, you get an IOU from the government. When you put cash in a money market account, in most cases you're getting an IOU from the government. When you invest in municipal bonds, you get IOU's from the government.

Why would anyone buy a savings bond?

You'd be better off putting that money into a mutual fund for your kid

Nice idiotic attempt to deflect.

btw, most mutual funds have cash reserves that they put in money market accounts that are largely composed of US treasuries,

which are IOU's from the government.