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+--- Thread: Where would we be if bush got his wish and put social security in the stock market? (/thread-6971.html)
Where would we be if bush got his wish and put social security in the stock market? - Protect America from Republicans - 10-12-2012 08:29 AM
With major stocks losing 80% of their value in a few months, there would be millions of senior citizens starving while bush's wall street buddies make trillions.
lol, repigs always avoiding the question.
Sorry, major stocks like citibank and gm and others were down 80%.
Perhaps some of you should read the part where I stated "major stocks". Did I say the dow was down 80%? No.
- Aj - 10-12-2012 08:37 AM
lol..Dems never tire of bashing Bush to take the focus off Bos reckless policies.
- Matt C - 10-12-2012 08:37 AM
The stock market is down, but not by 80%.
- scaerdrys - 10-12-2012 08:37 AM
1. Bush's idea was better than putting social security in a little box and giving Democrats the key, in case they needed emergency spending. Why do you hate him so? On every matter but this one, he was a fiscal democrat...
2. My generation is looking at nil, anyhow. Why not do away with Social Security and let us invest it however we see fit? I guess we should just trust Big Brother with our future, instead of getting the OPTION of opting out of a huge Ponzi scheme? In this sense, the government is worse than Madoff. I mean, he had to convince people to invest in him. The government just takes your money, tells you that you have no choice, and later wants to know why you couldn't have kicked off at 70. The government is a fucking mafia where SS is concerned.
3. The stock market lost 80% value in the past few months? Either your lying, or Obama has been a bigger blow to the economy than I thought.
Peace
EDIT
If ppl were dumb enough to invest in GM and citibank, they deserved to lose their SS....
- Hank Loogie - 10-12-2012 08:37 AM
It would have been voluntary. You would only put your portion there if you chose to do so.
- Alex - 10-12-2012 08:37 AM
Lots of seniors would be eating cat food.
- subwm4bush - 10-12-2012 08:37 AM
A Great Bush Depression instead of our Bush recession.
- bmovies60 - 10-12-2012 08:37 AM
"Where would we be if bush got his wish and put social security in the stock market?"
We'd be in a much better place. Social Security is a government ponzi scheme.
- Nemo - 10-12-2012 08:37 AM
If Social Security were run by a private company rather than the government those running it would be in jail.
http://en.wikipedia.org/wiki/Ponzi_scheme
Your Social Security tax goes to pay existing obligations and the rest goes straight into the general budget. By law, its required to spend that money on government bonds. As the baby boomers retire SS obligations will exceed its intake in 2016, the bonds are projected to hold water until 2037.
http://www.ssa.gov/qa.htm
The repayment of those bonds in 2016 will come from the general budget, since the general budget is currently consuming SS money and spending it on other programs that do not generate a return on investment. This money will come from cuts in SS benefits, cuts in spending (ahahahaha erm, sorry lost my composure...), tax increases, and lots of borrowing. Borrowing money to pay off borrowed money! The economic impact will be ghastly.
While the stock market is down in the short term, long term the market has always turned a profit. Other retirement and pension funds, 401ks mutual funds etc, all invest heavily in various stocks. In the long term, its the better option.