Jeb Bush: Next president should privatize Social Security

[PratchettFan]

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

That should be where the safety net kicks in.
And you obviously have to have limits on what you can invest in based on your age and ability to take care of yourself if you fail.
There are plenty of safe options out there that if taken advantage of early will provide a nice nest egg with very little risk.

So, if I understand you, you are saying that I should pay into social security but only be allowed to access it if I am desperate?

No,you should be able to use a portion of your money to invest leaving some as a safety net.

That is what we currently have.

No it's not.

Yes, it is. You pay into the system for the safety net. You use a portion of your money to invest. What is different?

 

[Mr Natural]

Senior citizens who vote republican need to have their heads examined.

 

[Misty]

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.

There should be a choice. Not everyone is a complete lame ass unable to save their own money for retirement.

 

[BluesLegend]

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.

You don't know what the hell you are talking about

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.

Do you deny that congress borrowed and blew $2 trillion dollars of OUR money from the trust fund and have no way of paying it back?

Do you have any idea how fixed income investments operate?

You are wrong. The US government can pay the 2 trillion back, since they don't have to lol.

You idiots just don't get it, trying to penetrate the 6 inches of your Neanderthal skulls seems impossible. First the government raises the SS tax telling us they need to collect extra money to cover future benefits so the trust fund doesn't go bust when the baby boomers retire. So we start sending all this extra money to Washington. Instead of holding those funds to cover those benefits congress uses OUR money as a damn slush fund and goes on a spending spree. Now they owe the trust fund $2 trillion dollars they can't pay back and the baby boomers are retiring. So what do they do? Caught with their hand in the cookie jar now they are proposing to reduce or deny benefits to some, and increase the retirement age for most hoping that people die before they can collect a dime of SS benefits they were forced for decades to pay for. If this financial fiasco occurred in the private sector these assholes would be perp walked to jail!

 

[Misty]

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.

People living off of social security alone do live in poverty.

If all you depend on is SSI you are poor dude.

 

[BluesLegend]

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.

You don't know what the hell you are talking about

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.

Okay, all you liberal bunch of dumb asses go ahead tell us how the government is going to pay back the $2 trillion dollars of OUR money they borrowed and spent from the SS trust fund?

Why would they have to pay it all back at once?

HELLO earth to idiots, they don't have the money now to pay the SS benefits and don't have the money to pay back the $2 trillion dollars so now they are trying to screw over the people who were forced to pay into this scheme. They are proposing reduced benefits and in some cases denying benefits, means testing, and increasing the retirement age to a ridiculous age hoping people will just die before they can collect a dime of the benefits they paid for.

 

[nat4900]

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

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

Lets say you had invested ALL (or most) of your retirement bundle in AIG..... around 2007-2008.........You gambled and lost....what now??? Who do you turn to?

 

[NYcarbineer]

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.

You don't know what the hell you are talking about

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.

Okay, all you liberal bunch of dumb asses go ahead tell us how the government is going to pay back the $2 trillion dollars of OUR money they borrowed and spent from the SS trust fund?

Why would they have to pay it all back at once?

HELLO earth to idiots, they don't have the money now to pay the SS benefits and don't have the money to pay back the $2 trillion dollars so now they are trying to screw over the people who were forced to pay into this scheme. They are proposing reduced benefits and in some cases denying benefits, means testing, and increasing the retirement age to a ridiculous age hoping people will just die before they can collect a dime of the benefits they paid for.

Everyone's benefits are getting paid.

Explain in detail, why would the government have to pay back the 2 trillion? Under what circumstances? How quickly?

 

[Stephanie]

Senior citizens who vote republican need to have their heads examined.

why is that your business? and why so hateful all over a conversation on SS?

 

[nat4900]

People living off of social security alone do live in poverty.

If all you depend on is SSI you are poor dude.

Moronic.........First, NO ONE is stating that SS should be your ONLY retirement asset.

Second, you or anyone else is free to gamble your other assets in the stock market or real estate or a winery.....

 

[Mr Natural]

Senior citizens who vote republican need to have their heads examined.

why is that your business? and why so hateful all over a conversation on SS?

You want to lose your social security? Vote republican, fool.

 

[rightwinger]

We have developed 401ks and IRAs to encourage Americans to invest in the private sector for their retirement

These devices have replaced pensions in most companies. Social Security is the only source of dependable monthly retirement for most Americans

All Americans should be encouraged to have a retirement fund, Social Security and a paid off home to cover their retirement

 

[Lonestar_logic]

He just lose the election right out of the gate. something's shouldn't be privatized...

SSI is one of them...

Yes because the government is such a better steward of our hard earned money.

Damn you people are stupid!

 

[Stephanie]

Senior citizens who vote republican need to have their heads examined.

why is that your business? and why so hateful all over a conversation on SS?

You want to lose your social security? Vote republican, fool.

wow, and here I thought you were an adult. Parrot of old DNC talking points is more like it

 

[BluesLegend]

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.

You don't know what the hell you are talking about

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.

Okay, all you liberal bunch of dumb asses go ahead tell us how the government is going to pay back the $2 trillion dollars of OUR money they borrowed and spent from the SS trust fund?

Why would they have to pay it all back at once?

HELLO earth to idiots, they don't have the money now to pay the SS benefits and don't have the money to pay back the $2 trillion dollars so now they are trying to screw over the people who were forced to pay into this scheme. They are proposing reduced benefits and in some cases denying benefits, means testing, and increasing the retirement age to a ridiculous age hoping people will just die before they can collect a dime of the benefits they paid for.

Everyone's benefits are getting paid.

Explain in detail, why would the government have to pay back the 2 trillion? Under what circumstances? How quickly?

You need to educate yourself on the current state of the SS trust fund, recent shortfalls, how they were covered, projected future fund shortfalls, and the steps these crooked politicians are now proposing to deal with them which are basically to screw people out of their SS benefits and raise taxes even further forcing us to pay the money in a second time.

People you can't trust the government with your money, sadly that's the reality. I don't know if privatizing all or part of SS is a good idea or not, but clearly these fools in Washington cannot be trusted with our money.

 

[M14 Shooter]

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,"

Gambling requires this.
The stock market does not.

 

[nat4900]

The very best way to save the trust fund is to have folks who earn more than $130,000 keep being taxed for SS.

 

[M14 Shooter]

The very best way to save the trust fund is to have folks who earn more than $130,000 keep being taxed for SS.

Who should then have their benefits adjusted upwards, as apropriate.
Right?

 

[PratchettFan]

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.

You don't know what the hell you are talking about

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.

Okay, all you liberal bunch of dumb asses go ahead tell us how the government is going to pay back the $2 trillion dollars of OUR money they borrowed and spent from the SS trust fund?

Why would they have to pay it all back at once?

HELLO earth to idiots, they don't have the money now to pay the SS benefits and don't have the money to pay back the $2 trillion dollars so now they are trying to screw over the people who were forced to pay into this scheme. They are proposing reduced benefits and in some cases denying benefits, means testing, and increasing the retirement age to a ridiculous age hoping people will just die before they can collect a dime of the benefits they paid for.

No. The original retirement age for social security was 65. That was in 1935 when the average life expectancy was 61. Life expectancy is now 79 and the retirement age for people retiring now is 66. Retirement age went up 1 year and people are living an extra 18 years. How are they being screwed?

 

[OohPooPahDoo]

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.

It still has to be paid for if it is "phased in" . Please tell me where the money is coming from. None of you privatization junkies seem to be able to comprehend this. Privatizing social security means the current generation has to pay for retirement TWICE, unless you plan on increasing the deficit, which wouldn't surprise me, as the only two Presidents to reduce the deficit in the past 50 years were Democrats