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+--- Thread: What would've happened to Social Security if Republicans privatized it like they wanted to under Bush? (/thread-6930.html)
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What would've happened to Social Security if Republicans privatized it like they wanted to under Bush? - Law Man says use your noodle - 10-12-2012 08:26 AM
By making it depend on the stock market. Was this a terrible and reckless Republican idea?
- Randy F - 10-12-2012 08:35 AM
It would have allowed you to at least get your hands on it. Now Obama is going to steal it from you and you'll never see it.
- Di - 10-12-2012 08:35 AM
I would rather it go "poof" due to the market tanking than paying out to people who have not contributed to the system. As things stand, there will nothing left for any of us who have been paying in for years thanks to overgenerous donations to those who are not entitled.
- Socrates - 10-12-2012 08:35 AM
Apparently you don't do many investments. Depending on how the investments were structured, it could have taken a hit for a couple of years (end result not earning anything on principle) or nothing, Regardless, the yield of a privatized Social Security account would still be DOUBLE what it is now, and without taxpayers paying for it.
Some people picture all the Social Security money going into Bill's Louisiana Fish House or something like that. Liberals might structure something like that. Conservatives wouldn't. If FDR put the trust fund into a simple interest-bearing account in the first place, all this would have been avoided. Well.....Democrats (and a few Republicans) would have still raided the Social Security Fund for their pet spending projects, so disregard that last comment.
- Golden - 10-12-2012 08:35 AM
it would all be gone. they wanted to privatize it so they could get their greedy hands on it.
- Bonkers! - 10-12-2012 08:35 AM
I guess you didn't understand what the Republicans wanted to do. They had no intention of privatizing Social Security. They merely wanted to give people the option of putting some of their money into private investments.
- Jeff Lebowski - 10-12-2012 08:35 AM
The Wall Street boys would have found it easier to rob whatever you have left.
Now they are going to have to wait for the economy to collapse before owning your farm.
- webned - 10-12-2012 08:35 AM
You'd have to rename it Social Insecurity.
- adeline - 10-12-2012 08:35 AM
It would have given those who wanted the right to spend their money the way they saw fit, instead of having it taken from them to be misappropriated by government.
- John S - 10-12-2012 08:35 AM
People would've lost a lot of ther money in the stock market--stocks, bonds, bank accounts, all are at the mercy of market forces. Including gold. The geniuses who bought gold last year will lose a mint.