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+--- Thread: What would have happened to Social Security if the Republicans had privatized it before the stock market crash? (/thread-9204.html)
Pages: 1 2
- jimbo - 10-14-2012 12:44 AM
Republicans never have nor do now, favor the privatization of SS. What they ARE in favor of is private funded options for those who so desire. Major difference. Even with the bearish stock markets from time to time, in the last 50 years profits from the markets have beat the heck out of SS withholding. What is really your point? What is really cool is that the Amish are probably laughing at this debate as they do not participate in SS, nor Medicare. The last of the true Americans?
- ggraves1724 - 10-14-2012 12:44 AM
My recollection is that Bush brought up the idea that younger citizens could elect to change their SS from government funding to private investment, really no different than a 401K. However, the Democratic leadership (Pelosi primarily) would not consider bringing it up for a vote since it was a Republican idea, Bush even asked that the Dem's bring up their own idea, but they refused to even consider it. I believe most of both houses are chock full of ego driven career minded slugs who start running for office the day they are elected and that partisanship is merely a campaign gimmick.
It's probably a sure bet that the market would have welcomed the private investment especially since it would have government support, and it would have been a starting point to repair SS. But alas, we are super ignorant about politics by expecting things to change by putting the same people in office weary year after year.
- Meredith - 10-14-2012 12:44 AM
The top 1% would have it all by now. Obama saved the damn day, I don't care what anyone says.
- tylertxanreborn - 10-14-2012 12:44 AM
with the rules suggested in privatization--ultimately everyone would have made a lot of money--because they couldn't sell it when the stock dropped--a few years later they would have made money on those shares. Then they would have been buying shares when the market was at 6000 and with it now 12000--they would have been about 100 times better off than if it weren't privatized.