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+--- Thread: Conservatives: Do you believe peoples' social security should be at the mercy of the stock market? (/thread-9558.html)
Conservatives: Do you believe peoples' social security should be at the mercy of the stock market? - Lois Griffin - 10-14-2012 06:39 AM
(not to excuse congress for mis-using SS funds, but gambling retirement security in the stock market is just plain stupid.)
- Uncle Pennybags - 10-14-2012 06:47 AM
Who says a private account has to invest it in the stock market?
Why can't I have the choice to invest it in Treasury Bonds if I wish, or FDIC insured CDs? Or Gold?
Oh, and by the way, despite all the ups and downs in the market over the last 12 years, I am well ahead on my 401k, by investing in those very stocks that you think are too risky.
- Torstein - 10-14-2012 06:47 AM
Its only stupid if you don't know how to make money in the stock market.
- 350 ppm goal - 10-14-2012 06:47 AM
They believe that CEOs should crontol SS.
- Oldwhiteguy2earth - 10-14-2012 06:47 AM
The stock market returns 7% on a historical average. People do not invest in stocks if they do not return more money than guaranteed savings accounts. I
If you take my "contributions" to SS and my employers' "contributions" to SS over the 49 years I worked and compounded them at 5% interest (what you could get in long term bank deposits), I should have $425,000 in my account. Instead there isn't one dime. That's what I call a foolish gamble.
- David - 10-14-2012 06:47 AM
The last time it was tried, only 4% of the individuals contribution would be privatized. 4%, but you libs didn't like that.
I did and still do want at least some of my money privatized. With the deal, you would have control of how that 4% would be invested, much like a 401(k) account.
With the control of your money, you would have had the ability to will that money to your family when you die. You can not do that with SS
- DR.R.Luxemburg - 10-14-2012 06:47 AM
I agree with your categorization The cons want to privatize SS in order to help their buddies the insurance companies. A similar plan under dictator Pinochet in Chile turned out to be a disaster
Hope this helps