Jeb Bush: Next president should privatize Social Security

[mikegriffith1]

More liberal demagoguery. Bush is talking about privatizing SS for people who are under a certain age--like 50 or 55. If you already have SS, this would not affect you. If you are over 50 or 55, you could choose to stay in SS or opt out and get a reduced benefit. If you're under the age cutoff, then you would have the opportunity to take your SS tax money and invest it as you saw fit.

Are liberals not aware that most private companies have changed from defined-benefit plans to 401Ks? That is basically all the government would be doing by changing from SS to 401Ks and IRAs.

 

[Camp]

Here you go again assuming people have to pay people to manage their money.

If you don't want to pay someone pick a no load sector fund with a very low expense ratio

There are thousands of them out there

Fine......do the above with your disposable income.....but leave the safety net of SS out of the speculation.

Why should I have to get 15% of my lifetime income stolen by the government?

If I had that money since I was 18 and was able to save it myself I'd already be retired

The SS tax has never been near 15%.

You do realize that your FICA taxes are 7.6% of your income and that your employer matches that don't you

add it up and what do you get???

That is combined rate for both SS and Medicare. There actual SS rate is 6.2. You are assuming that your employer would be required to put in and additional amount into your private fund like a pension. In addition, the current rate is current. Depending on your age you may have contributed half that rate. Your claims would only apply to persons starting out at 18 today. Good luck finding 18 year old kids willing to put 15% of their income or even 6.2% of it into retirement funds instead of cars, apartments, cloths and fun.

 

[Skull Pilot]

Here you go again assuming people have to pay people to manage their money.

If you don't want to pay someone pick a no load sector fund with a very low expense ratio

There are thousands of them out there

Fine......do the above with your disposable income.....but leave the safety net of SS out of the speculation.

Why should I have to get 15% of my lifetime income stolen by the government?

If I had that money since I was 18 and was able to save it myself I'd already be retired

The SS tax has never been near 15%.

You do realize that your FICA taxes are 7.6% of your income and that your employer matches that don't you

add it up and what do you get???

That is combined rate for both SS and Medicare. There actual SS rate is 6.2. You are assuming that your employer would be required to put in and additional amount into your private fund like a pension. In addition, the current rate is current. Depending on your age you may have contributed half that rate. Your claims would only apply to persons starting out at 18 today. Good luck finding 18 year old kids willing to put 15% of their income or even 6.2% of it into retirement funds instead of cars, apartments, cloths and fun.

People wouldn't need medicare if they had control of that 15% of their lifetime incomes.
And your employer is already required to give the match to the government all that changes is you would get it instead

And you make it mandatory savings just like it is now only people get the choice of where to put it.

If you're afraid of the market then you can put it all in T bills and be guaranteed the same piddly payment you'd get under the current system

 

[hipeter924]

Jeb Bush should run his campaign on it.

Sure will win a lot of votes, promising to kick the elderly into the gutter, and to turn America into a South African slum, complete with on road car thefts.

If that's Jebs 'American Dream', then I am voting for the Emperor from Star Wars, and if he can't run, then the Decaying Corpse of Ronald Reagan.

 

[nat4900]

Why should I have to get 15% of my lifetime income stolen by the government?

A bit over the top with the "stolen by the government"...don't you think?

What about the EMPLOYER's contribution to the SS tax?

 

[nat4900]

And you make it mandatory savings just like it is now only people get the choice of where to put it.

.......and you'd be willing to subsidize the BAD choices of where people placed that money???? or.......just let them be destitute?

First right wingers bitch and moan that the educational system sucks big time....then you expect for EVERY citizen to be "investment" savvy.......Moronic.

Of course, you'll say that since people have a choice, only the "smart" ones will benefit and thereby creating yet ANOTHER economic division, right?

 

[nat4900]

Jeb Bush should run his campaign on it.

Sure will win a lot of votes, promising to kick the elderly into the gutter, and to turn America into a South African slum, complete with on road car thefts.

Here are the evaluations after Jeb's statement on this issue:

He is an idiot....
He doesn't really want to be president...
......or he has surrounded himself with the worst of advisers

 

[Skull Pilot]

Why should I have to get 15% of my lifetime income stolen by the government?

A bit over the top with the "stolen by the government"...don't you think?

What about the EMPLOYER's contribution to the SS tax?

The employer's contribution IS part of the employee's salary.

 

[Skull Pilot]

And you make it mandatory savings just like it is now only people get the choice of where to put it.

.......and you'd be willing to subsidize the BAD choices of where people placed that money???? or.......just let them be destitute?

First right wingers bitch and moan that the educational system sucks big time....then you expect for EVERY citizen to be "investment" savvy.......Moronic.

Of course, you'll say that since people have a choice, only the "smart" ones will benefit and thereby creating yet ANOTHER economic division, right?

Anyone can learn the basics of investing.

It's not up to me to subsidize those that don't care enough about their and their family's future that they won't take some time to learn how to handle their own money.

 

[OohPooPahDoo]

Hands OFF my SS...I have been collecting it for 15 years now... think of the millions of people who depend on it to stay afloat as retirees. The greatest thing we ever did in this nation legislative wise is SS.

The beauty of it is that you pay your tax and that's it, and then one day you wake up old lol, spend a short time filling out some forms, and voila, you start getting checks.

And are guaranteed to have less than you would have if you saved that money yourself.

AWESOME

Successful investment has very little to do with anyone's choices, especially when it involves people who are not professional investors.

Time in the market beats timing the market for average investors.
The first mutual fund I invested in at 18 has averaged an 11% return. That fund is still in my portfolio and will be for a long time.

You don't seem to understand a buy and hold strategy.

Reagan and the Democrats made the changes in 1983 that amounted to roughly a 50 year fix. All SS needs now is another 50 year fix.

Kick the can again

Geez, so I guess fixing your car so it runs another 50,000 miles is a dumb idea?

When fixing that car costs more than buying a new or newer car yes it is a bad idea

It's more expensive to privatize SS.

No it costs nothing to privatize SS as each person will own his own account and there will be no government necessary

Sorry, but that's not true. Every penny diverted from the current SS system will have to be paid for somehow. Privatizing, partial or full, = more U.S. debt.

 

[nat4900]

Anyone can learn the basics of investing.

It's not up to me to subsidize those that don't care enough about their and their family's future that they won't take some time to learn how to handle their own money.

So, under your little plan......you'd expect some 90-year old in a nursing home to keep up with the daily trading of her money to keep her bed at the nursing home?

 

[Skull Pilot]

Hands OFF my SS...I have been collecting it for 15 years now... think of the millions of people who depend on it to stay afloat as retirees. The greatest thing we ever did in this nation legislative wise is SS.

The beauty of it is that you pay your tax and that's it, and then one day you wake up old lol, spend a short time filling out some forms, and voila, you start getting checks.

And are guaranteed to have less than you would have if you saved that money yourself.

AWESOME

Time in the market beats timing the market for average investors.
The first mutual fund I invested in at 18 has averaged an 11% return. That fund is still in my portfolio and will be for a long time.

You don't seem to understand a buy and hold strategy.

Kick the can again

Geez, so I guess fixing your car so it runs another 50,000 miles is a dumb idea?

When fixing that car costs more than buying a new or newer car yes it is a bad idea

It's more expensive to privatize SS.

No it costs nothing to privatize SS as each person will own his own account and there will be no government necessary

Sorry, but that's not true. Every penny diverted from the current SS system will have to be paid for somehow. Privatizing, partial or full, = more U.S. debt.

Only at first then the savings from getting rid of the bloated government agency will overtake the expense of the transition

 

[Skull Pilot]

Anyone can learn the basics of investing.

It's not up to me to subsidize those that don't care enough about their and their family's future that they won't take some time to learn how to handle their own money.

So, under your little plan......you'd expect some 90-year old in a nursing home to keep up with the daily trading of her money to keep her bed at the nursing home?

Hey Idiot people already collecting would be grandfathered in

And if you think investing for the long term and then instituting a systematic withdrawal program are the same as day trading then you're even dumber than I thought and that's saying something.

 

[nat4900]

The employer's contribution IS part of the employee's salary.

So if a young man accepts a job, the employer would say: "your starting salary is 30K, plus I'll kick in 7% for your speculation in the Wall Street casino investment strategies.

 

[Camp]

And you make it mandatory savings just like it is now only people get the choice of where to put it.

.......and you'd be willing to subsidize the BAD choices of where people placed that money???? or.......just let them be destitute?

First right wingers bitch and moan that the educational system sucks big time....then you expect for EVERY citizen to be "investment" savvy.......Moronic.

Of course, you'll say that since people have a choice, only the "smart" ones will benefit and thereby creating yet ANOTHER economic division, right?

Anyone can learn the basics of investing.

It's not up to me to subsidize those that don't care enough about their and their family's future that they won't take some time to learn how to handle their own money.

Well, the country you live in, under both major parties has decided it is up to you. They have confirmed their decision repeatedly and consistently for 80 years. They are have not been as judgmental as you in determining why people have not or do not invest the way you have decided they should. You guys take sore losing to outrageous limits.

 

[Skull Pilot]

The employer's contribution IS part of the employee's salary.

So if a young man accepts a job, the employer would say: "your starting salary is 30K, plus I'll kick in 7% for your speculation in the Wall Street casino investment strategies.

The employer is forced to give that money to the government for the benefit of the employee is he not?

What difference does it make if the employer is forced to give it to the government or to them employee for mandatory savings in a private account?

And have you ever employed anyone?

I have and do and the payroll costs I incur are indeed taken into account when hiring people

 

[Skull Pilot]

And you make it mandatory savings just like it is now only people get the choice of where to put it.

.......and you'd be willing to subsidize the BAD choices of where people placed that money???? or.......just let them be destitute?

First right wingers bitch and moan that the educational system sucks big time....then you expect for EVERY citizen to be "investment" savvy.......Moronic.

Of course, you'll say that since people have a choice, only the "smart" ones will benefit and thereby creating yet ANOTHER economic division, right?

Anyone can learn the basics of investing.

It's not up to me to subsidize those that don't care enough about their and their family's future that they won't take some time to learn how to handle their own money.

Well, the country you live in, under both major parties has decided it is up to you. They have confirmed their decision repeatedly and consistently for 80 years. They are have not been as judgmental as you in determining why people have not or do not invest the way you have decided they should. You guys take sore losing to outrageous limits.

I don't tell anyone how to invest so why the fuck should you and the government take 15% of my income and then give me some piddly monthly check?

That choice literally will cost me millions of dollars in lost opportunity

 

[nat4900]

Only at first then the savings from getting rid of the bloated government agency will overtake the expense of the transition

Ahhhhhh, a tacit admission that you want to kill SS/Medicare all together ...otherwise that "bloated government agency" must continue to exist, don't you think?

 

[Camp]

And you make it mandatory savings just like it is now only people get the choice of where to put it.

.......and you'd be willing to subsidize the BAD choices of where people placed that money???? or.......just let them be destitute?

First right wingers bitch and moan that the educational system sucks big time....then you expect for EVERY citizen to be "investment" savvy.......Moronic.

Of course, you'll say that since people have a choice, only the "smart" ones will benefit and thereby creating yet ANOTHER economic division, right?

Anyone can learn the basics of investing.

It's not up to me to subsidize those that don't care enough about their and their family's future that they won't take some time to learn how to handle their own money.

Well, the country you live in, under both major parties has decided it is up to you. They have confirmed their decision repeatedly and consistently for 80 years. They are have not been as judgmental as you in determining why people have not or do not invest the way you have decided they should. You guys take sore losing to outrageous limits.

I don't tell anyone how to invest so why the fuck should you and the government take 15% of my income and then give me some piddly monthly check?

That choice literally will cost me millions of dollars in lost opportunity

It is a tax imposed on you by your countrymen who have decided it is every ones duty to contribute to a level of support for old people. Unless and until you accept it for what it is and not what you have been brainwashed into believing is a personal pension plan or retirement portfolio you will simply wallow in you misunderstanding and misinterpretation of what SS is. The government gives you opportunities for retirement investments you can control. SS is not one of them.

 

[OohPooPahDoo]

Because the sheep don't understand the concept of choice.

They are all so afraid of the stock market they don't realize they could save their money in other places

It isn't the stock market they fear, it's responsibility.

Leftist drones will suffer any indignity, including death, just so they never have to take blame for the outcomes that affect them. Camp yearns for a dictator to rule over him simply because then his fate will never be his fault.

I don't fear responsibility. Quite the opposite. I fear irresponsibility. In this context, I fear the irresponsibility of the dollar averaged moron Warren Buffet wanna be investors.

Why ar you so fearful? Do you need a psychiatrist?

I've read history.

Really which history?

The history of the stock market than has had positive returns in any 40 year period of its existence?

There are only three independent 40 year periods over the history of reliable stock indices in the U.S. Are you claiming you can do statistics with only three sample points?