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+--- Thread: After 2001/2008/this past week in financial markets, how would privatized Social Security system ever work? (/thread-7397.html)
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After 2001/2008/this past week in financial markets, how would privatized Social Security system ever work? - FLSwampBoy - 10-12-2012 03:54 PM
Throw in the GOP privatized Medicare proposal as well, and what would the future of retiring Americans look like?
- Yes - 10-12-2012 04:02 PM
I want every Yahoo point!
- Ed - 10-12-2012 04:02 PM
Bleak
- jakeb - 10-12-2012 04:02 PM
Well you certainly don't have to invest it in volatile stocks. I now have my IRA and 401 in stable value funds and money markets. You could even put it in FDIC insured money markets or CDs.
- Victor - 10-12-2012 04:02 PM
Well, social Security would turn into 410Ks... Those worked out SOOOO WELL!!! Because handing over all that money to Wall St. is an AWESOME IDEA! On opposite day.
Medicare would be made into a voucher system that would kill off a majority of seniors.
- Darla - 10-12-2012 04:02 PM
Looks like most people would be broke.
- Psychobenzaprine - 10-12-2012 04:02 PM
Individuals would make choices with their own earnings and reap the consequences thereof. (It's called freedom, and it's what America was founded upon.)
- Blitzed - 10-12-2012 04:02 PM
Assuming you had been paying into a retirement as long as and as much as Social Security over your working career, you'd be way ahead...
- YB Logical - 10-12-2012 04:02 PM
You must realize that Obama will not be President forever.
http://abcnews.go.com/Business/Economy/story?id=6185247&page=1
- David - 10-12-2012 04:02 PM
Only 4% of each individuals SS tax payments would have been privatized and been in control of that individual. That leaves 96% of the tax untouched, and headed toward more government spending...and what not. Historically, the stock market has been a reasonably better odea with better gains than what you get with the government only system. Even now, you would be making more money in the stock market portion of your contributions than with the portion that would go straight to the government. Likewise, with the 4%, you could will that, pass it on, to your heirs...you can not do that with SS as it stands now.