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+--- Thread: Privatizing a portion of Social Security: Why are liberals happy with a Negative Return on their "investment"? (/thread-7842.html)
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Privatizing a portion of Social Security: Why are liberals happy with a Negative Return on their "investment"? - The MobFather - 10-13-2012 12:01 AM
Starting now.. you will NOT get back what you paid in.
Today, you could open an annuity with guaranteed principal + guaranteed return with any insurance company and have a much better retirement that SS will ever give you.
2.5% Minimum Guaranteed.. OR.. -5%? And that is with rates at record lows ! The only place they can go is up !
If you wanted to be in the market... keep this in mind. The average return over ANY 30 year period is 10%
Washington -- People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It's a historic shift that will only get worse for future retirees, according to an analysis by The Associated Press.
http://www.syracuse.com/news/index.ssf/2012/08/todays_retirees_are_the_first.html
have you not noticed? 401k's recouped their losses by the middle of last year
Sorry Libs.. you know as much about Retirement planning as you do the Constitution.
SS IS A RISK ! You are LOSING YOUR MONEY !!! My God. ! Can you people read? You wont' get your money back !!!! lol
@Bruce.. do you know what a Pension is? They go out and buy an Annuity for you !!!!
- mommanuke - 10-13-2012 12:09 AM
How happy were the retirees in 2008 when the market crashed?
- IrateMenace991 - 10-13-2012 12:09 AM
I agree. Privatizing and putting corporations in charge of healthcare is good becaus they always care about us first. FACT.
- Gentlemenairport502 - 10-13-2012 12:09 AM
Because they love involuntary contribution.
- Truth - 10-13-2012 12:09 AM
So far Social Security has paid every dime it has ever owed. Starting now... you are a complete idiot.
- Jeff Spicoli - 10-13-2012 12:09 AM
I often wonder if cons also disbelieve in gravity bro.
- "The Sheep" - 10-13-2012 12:09 AM
A blind believe in government will make everything seems wonderful. LOL!
- kril_420 - 10-13-2012 12:09 AM
The key word here is Security. With SS being the biggest part of many seniors' incomes, we shouldn't introduce additional financial risk into the program.
- Mr. Smartypants - 10-13-2012 12:09 AM
The money you pay into Social Security doesn't go into a drawer with your name on it. It goes to pay people who are already on Social Security, people who are receiving benefits now. If you remove a portion of it to invest in the name of future SS recipients, you have to make up that shortfall somehow. So how do you do it?
GW Bush, when talking about his idea of privatizing 1/6 of SS, never explained that. And I don't think anyone ever even asked him about it. I really would like to have heard what he would have said. My guess is that he would have pretended not to understand the question. (Actually he wouldn't have had to pretend.) Or he would have simply deflected the question and changed the subject.
Bush's plan was half-baked. He wanted it to be his signature achievement, but HIS OWN PARTY killed the plan because they knew how popular SS was, and that it would have cost them votes on both sides.
- brucec83 - 10-13-2012 12:09 AM
That is a nice argument on paper, but there is no pile of cash out there for us to invest. Just a bunch of IOUs from the US Treasury.
Privatization is a code-word for eliminating the program. If privatized, the first major recession (or a stupid broker) would bankrupt it. Other countries have tried it and that is what happened. No sensible pension manager invests funds in equities to get the maximum return, Government bonds are the safest bet.
Social security is not really a pension plan, it is a tax and entitlement designed to provide a minimum amount that might prevent you from having to go on welfare. Paying in for 10 years entitles you to collect, but since courts have ruled that you have no property interest in your contributions, that payment can be raised, lowered or eliminated by any future Congress.
If you want higher returns, try an IRA.