Proposal for Social Security

[Nuthin' Fancy]

Privatization of Social Security is the single dumbest idea...........ever.
INSTEAD.
Let the people invest in Bernie Madoff.
Let the people invest in Sam Bankman-Fried.

NOT going to happen with everyone but the ones that do...................

 

[Blues Man]

You can do what ever you want. We are talking about forcing people into the markets.

No one is being forced into the market.

the money taken from you to fund the imaginary SS trust fund is no longer yours.

You should want Ss to be privatized so then you can just keep it in cash and have it be eaten away by inflation as you age

 

[Blues Man]

Privatization of Social Security is the single dumbest idea...........ever.
INSTEAD.
Let the people invest in Bernie Madoff.
Let the people invest in Sam Bankman-Fried.

NOT going to happen with everyone but the ones that do...................

There can be regulations and restrictions on where and through whom the money is invested.

 

[Nuthin' Fancy]

There can be regulations and restrictions on where and through whom the money is invested.

Who will determine that every two or four years?

 

[sparky]

the looming insolvency

Have you heard what Janet Yellen has said Frank?

~S~

 

[Blues Man]

Who will determine that every two or four years?

Why the made up time times?

It's easy enough to require that investment be in no load indexed funds that way no single advisor or investment co can mismanage the money.

If you don't like that option then you can invest solely in T bills

 

[pknopp]

No one is being forced into the market.

the money taken from you to fund the imaginary SS trust fund is no longer yours.

You should want Ss to be privatized so then you can just keep it in cash and have it be eaten away by inflation as you age

Stomp your feet all you want. That is not going to put any trust back into the corrupt markets. I can start drawing S.S. in November. My check will arrive every month without me worrying about anything. Politicians will make sure of that because they know the alternative will be people burning it all down.

 

[Blues Man]

Stomp your feet all you want. That is not going to put any trust back into the corrupt markets. I can start drawing S.S. in November. My check will arrive every month without me worrying about anything. Politicians will make sure of that because they know the alternative will be people burning it all down.

Not stomping my feet so just cut that shit out.

I don't trust the fucking government with my money because if you really abhor corruption then the government is the heart of that beast.

I retired at age 51 because I invested my money wisely you let the government handle yours and now you have to wait for the government to give some of it back to you.

 

[CrusaderFrank]

The markets are corrupt. Seniors should not be expected to survive off a corrupt system.

Argue the government is corrupt also if you want. I'll then note you need to find a way to not involve either entity.

Tell Warren Buffett

Oh and Nancy Pelosi too

 

[CrusaderFrank]

Privatization of Social Security is the single dumbest idea...........ever.
INSTEAD.
Let the people invest in Bernie Madoff.
Let the people invest in Sam Bankman-Fried.

NOT going to happen with everyone but the ones that do...................

Maybe read the OP. I proposed putting it in a S&P index fund. Is the S&P totally corrupt?

 

[Nuthin' Fancy]

Maybe read the OP. I proposed putting it in a S&P index fund. Is the S&P totally corrupt?

NO, but the ones that are, give them a black eye.
The S&P stock gets a black eye, the people that invested lose everything.

The companies in the index are mostly concentrated in the following three sectors as of Sept. 30, 2022:

Information technology, the largest sector by weight in the S&P 500 index, at 26.4%
Healthcare, the second-largest by weight, at 15.1%
Consumer discretionary the third-largest at 11.7%7
The domino effect.
IF it crashes...........again.
The US bear market of 2007–2009 was a 17-month bear market that lasted from October 9, 2007 to March 9, 2009, during the financial crisis of 2007–2009. The S&P 500 lost approximately 50% of its value, but the duration of this bear market was just below average.

 

[Dekster]

The basic structure of Social Security currently is fine. We just need to increase FICA taxes to adjust for the demographic shifts caused by baby boomers needing to draw benefits paid for by the smaller generations behind them.

 

[Mr Natural]

Eliminate the earnings cap. Social Security problem solved.

 

[pknopp]

Not stomping my feet so just cut that shit out.

I don't trust the fucking government with my money because if you really abhor corruption then the government is the heart of that beast.

I retired at age 51 because I invested my money wisely you let the government handle yours and now you have to wait for the government to give some of it back to you.

I retired at 58 and I'm certainly not going to live on S.S. alone.

 

[pknopp]

Tell Warren Buffett

Oh and Nancy Pelosi too

I doubt I will ever see either to tell them.