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+--- Thread: When will we be able to turn over social security and Medicare to unregulated (free market) banks? (/thread-9150.html)
When will we be able to turn over social security and Medicare to unregulated (free market) banks? - Jigi - 10-13-2012 11:30 PM
- Antithesis - 10-13-2012 11:38 PM
When I'm six feet under
- tinynose971 - 10-13-2012 11:38 PM
Probably the next Republican President will accomplish this.
Not that I want it to happen, and think it's a horrible idea, but they'll do it, because even now they have certain types of people convinced it's a good idea.
- Defending Sanity - 10-13-2012 11:38 PM
Hopefully never. Why would you want to do such a horrible thing?
- Thedude27 - 10-13-2012 11:38 PM
>When I'm six feet under
Hands you a shovel. Lets hope soon, judging by this: http://www.usdebtclock.org/
It seems like the ppl running it now arent doing so well at it. I'm happy that congress looted my retirment savings account (SS) that's a sure way to benefit us when we retire.
- grandma zaza - 10-13-2012 11:38 PM
That is not the intent, Jigi.
The intent is to allow people to manage their own plans, open it up to free market completion. There are many, many investments that are nearly rock solid, and their are high risk investments. You would be almost stupid to take a high risk investment as you get closer to retirement age.
BTW** The market is very heavily regulated. It always has been. The problem was with derivatives. They were unregulated in 1999.
- Mr NiceGuy^3 - 10-13-2012 11:38 PM
Hopefully never
They'd run it into the ground to make a quick buck, just like they did with the internet bubble and the housing bubble.
- DorkVader - 10-13-2012 11:38 PM
I'm not to sure banks would want to get involved with it. I know if I owned a bank I wouldn't want to deal with it.
I find it ironic that Union type Democrats don't want it privatized yet their retirements are privatized and they don't participate in it.
Those who don't participate in Social Security shouldn't be allowed to influence it?
What amazes me even more is almost every single Union member I speak too that does have a private retirement fund (teachers unions for example). Think they are entitled to Social Security because they've paid taxes. Yet they are clueless when you try to explain to them that you pay taxes also and on top of those taxes you pay social security contributions which they do not.