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And it's not impossible to be wiped out, even in low-risk ventures. Do you know how many thought-to-be bullet-proof 401-k plans were wiped out by Bush's assault on the Economy? I have a neighbor whom you should hear from. If it weren't for his son he would be homeless.And then when tens of millions of Americans get old and have squandared every penny they have, or had their retirement funds ripped off by frauds on Wall Street, what then?
Die!
Millions have squandered and gained before and after SS. Everyone should have a choice to opt in or out. I didn't say it should be trashed. It may be the right choice for some but it's not that difficult to obtain a higher rate of return through low risk ventures.
As for those who were wiped out before Social Security, you should hear my late parents' horror tales about the Great Depression.
If Social Security had been privatized before the 2008 collapse, where would it be today? I believe "up shit creek" is the short answer.The cost of privatizing Social Security would be in the trillions. To phase out the Trust Fund, you have to pay back the money it's owed.
The benefit from privatizing Social Security would save us trillions more.
... But it's all good, really, because you'll probably never get jobs, either.
As has been fully explained many times, the Social Security Trust Fund is not a "locked box" full of money. It is a government I.O.U. And if things ever get so bad government cannot satisfy that monthly obligation we'll have a lot more than that to worry about. Such as the second American revolution, which will result in a transition to communism.There never was a Social Security "trust fund". Politicians can't stand to see money lying around so they stole from social security from the beginning. LBJ made it official when he ordered FICA taxes to be placed in the general fund.
If Social Security had been privatized before the 2008 collapse, where would it be today? I believe "up shit creek" is the short answer.The cost of privatizing Social Security would be in the trillions. To phase out the Trust Fund, you have to pay back the money it's owed.
The benefit from privatizing Social Security would save us trillions more.
Do you have any idea the kind of shady manipulating, much of it blatantly criminal, that takes place on Wall Street and in the banking industry? The last thing you want to do is place your retirement security on the roulette table that is Wall Street. If you have some money you can afford to lose, go ahead and play with it on the stock market. But don't gamble with your future.
It wouldn't work.SS should have been made an option for each tax payer.
Too many workers would opt to have the money in their hands rather than deducted from their paychecks, some because they simply won't believe something as good as Social Security will ever be there for them (as we are seeing now), others because they simply don't believe they will grow old (believe it -- it's true). The System is perfect the way it is and it should be thought of as a mandatory insurance policy against abject poverty in old age.
There is nothing to stop people from having their own retirement accounts in addition to social security. Many people who work in low income occupations live from week to week all of their lives. When they get old, social security is something they can have to keep them from poverty. That is why it was created. Why don't people realize some people will just never make enough money to have a secure retirement without social security?Duh, been saying this for years. Bush recognized this and tried to do something, but the left screeched and hollered that the sky would come tumbling down because people would actually have more control over their own retirement and golly gee, we can't have that.
Over the last month, millions of students have been celebrating their college graduation. These students have been saving, studying, and looking forward toward to that moment for years. Now with graduation behind them, their next big investment could be a car, a house, or even open a portfolio for retirement. Unfortunately, a recent Pew poll found that only eight percent of millennials expect to receive full Social Security benefits when they retire. With a bleak postgraduate job climate, the prospects for government-backed retirement insurance may be even worse. The Social Security system in the U.S. is in financial ruin and requires structural changes in the form of private retirement account options to ensure Millennials receive benefits upon retirement.
Read more: Sorry, College Grads, You?ll Probably Never Get Your Social Security Money | The Daily Caller
Do you even track the DOW? Go crawl back up Alex Jones' hole.If Social Security had been privatized before the 2008 collapse, where would it be today? I believe "up shit creek" is the short answer.The cost of privatizing Social Security would be in the trillions. To phase out the Trust Fund, you have to pay back the money it's owed.
The benefit from privatizing Social Security would save us trillions more.
Do you have any idea the kind of shady manipulating, much of it blatantly criminal, that takes place on Wall Street and in the banking industry? The last thing you want to do is place your retirement security on the roulette table that is Wall Street. If you have some money you can afford to lose, go ahead and play with it on the stock market. But don't gamble with your future.
The cost of privatizing Social Security would be in the trillions. To phase out the Trust Fund, you have to pay back the money it's owed.
That's not necessarily true. We could allow the private option of having 1/3 of the money paid in as it's being paid in to be directed to investments avenues chosen by those individuals. In exchange, they give up 1/3 of their future expected benefits. The difference is the made up by putting less in the government bonds (which is why big government advocates don't like this idea).
Even a partial defined contribution model cuts trillions from the obligation.
The problem seems to be that the folks on the left think the population is too dumb to manage their own finances. They never take into account that one of the contributing factors to personal mismanagement of money is that the government is always there to buy some votes and save their bacon.
If SS had been in private hands in 2008 we'd all be in trouble. The Right has forecast doom for SS for as long as I can remember. Their problem is that they hate FDR.
Do you even track the DOW? Go crawl back up Alex Jones' hole.If Social Security had been privatized before the 2008 collapse, where would it be today? I believe "up shit creek" is the short answer.The benefit from privatizing Social Security would save us trillions more.
Do you have any idea the kind of shady manipulating, much of it blatantly criminal, that takes place on Wall Street and in the banking industry? The last thing you want to do is place your retirement security on the roulette table that is Wall Street. If you have some money you can afford to lose, go ahead and play with it on the stock market. But don't gamble with your future.
Dow Jones Industrial Average Last 10 Years | MacroTrends
Yea, Wall Street is a roulette table, you would have been conned into more than doubling your money since 08, talk about a bad investment geez. While social security, with over 100 trillion in liabilities(that is raided by FEDGOV for pointless wars), that is safe.
It's nonsensical to OP that Sorry, College Grads, Youll Probably Never Get Your Social Security Money
The system will work fine with minor fixes. After the next Great Depression the wave of repulsion for the oligarchs who caused it will result in a massive majority of congressional reps and senators and a president who will fix SS and muzzle business again.
Your brain is "nonsensical," fakey. You're blowing hot gas out your ass. There isn't a smidgeon of evidence to support anything you claimed.
poor little anarcho-commie who does not know history
If Social Security had been privatized before the 2008 collapse, where would it be today? I believe "up shit creek" is the short answer.The cost of privatizing Social Security would be in the trillions. To phase out the Trust Fund, you have to pay back the money it's owed.
The benefit from privatizing Social Security would save us trillions more.
Do you have any idea the kind of shady manipulating, much of it blatantly criminal, that takes place on Wall Street and in the banking industry? The last thing you want to do is place your retirement security on the roulette table that is Wall Street. If you have some money you can afford to lose, go ahead and play with it on the stock market. But don't gamble with your future.
As has been fully explained many times, the Social Security Trust Fund is not a "locked box" full of money. It is a government I.O.U. And if things ever get so bad government cannot satisfy that monthly obligation we'll have a lot more than that to worry about. Such as the second American revolution, which will result in a transition to communism.There never was a Social Security "trust fund". Politicians can't stand to see money lying around so they stole from social security from the beginning. LBJ made it official when he ordered FICA taxes to be placed in the general fund.
You are obviously too stupid to get it. Government I.O.U.s that it issues to itself are totally worthless to the taxpayers. It's like saying "if we hadn't spent the money, it would be right here."
High Schools and Universities are debt farms, what is new.Duh, been saying this for years. Bush recognized this and tried to do something, but the left screeched and hollered that the sky would come tumbling down because people would actually have more control over their own retirement and golly gee, we can't have that.
Over the last month, millions of students have been celebrating their college graduation. These students have been saving, studying, and looking forward toward to that moment for years. Now with graduation behind them, their next big investment could be a car, a house, or even open a portfolio for retirement. Unfortunately, a recent Pew poll found that only eight percent of millennials expect to receive full Social Security benefits when they retire. With a bleak postgraduate job climate, the prospects for government-backed retirement insurance may be even worse. The Social Security system in the U.S. is in financial ruin and requires structural changes in the form of private retirement account options to ensure Millennials receive benefits upon retirement.
Read more: Sorry, College Grads, You?ll Probably Never Get Your Social Security Money | The Daily Caller
You are obviously too stupid to get it. Government I.O.U.s that it issues to itself are totally worthless to the taxpayers. It's like saying "if we hadn't spent the money, it would be right here."
As has been fully explained many times, the Social Security Trust Fund is not a "locked box" full of money. It is a government I.O.U. And if things ever get so bad government cannot satisfy that monthly obligation we'll have a lot more than that to worry about. Such as the second American revolution, which will result in a transition to communism.
You are obviously too stupid to get it. Government I.O.U.s that it issues to itself are totally worthless to the taxpayers. It's like saying "if we hadn't spent the money, it would be right here."
The Trust Fund is a separate entity inside the government. SS has a set, specific revenue source, the payroll tax. The investment of the trust fund in federal securities is no more the government issuing IOU's to itself than is a soldier buying a savings bond.
