Why can't we privatize social security?

[mo0ink]

Social security is already insecure by Government.

Because the market is down the naive are out in abundance with statements about how lucky everyone is to not be able to invest their own money...but let me remind you, while the markets may be down, it is the Social Security fund that is teetering on bankruptcy.

Also, there has never been a 30 year period in the history of Social Security where the S&P didn't completely blow away the returns on Social Securuty (look it up)...even if you were 100% in stocks today, having started 30 years ago you would have more money than Social Security delivers.

No one would have lost all their money. Its Always been conventional wisdom to convert most of your investments into safe stocks and bonds 5-10 years prior to retiring, so if you were invested 100% in the market and prepared like everyone else for retirement, you would be just fine.



Low cost, no load index funds such as Vanguard and Fidelity have excellent retirement funds that beat social security hands down.

If we privatize social security, we balance the budget.

Don't let the naive, uneducated, or down right ignorant people fool you, a guaranteed 2% return built on a Ponzi scheme is not a good deal.

[coldfuse]

The problem with privatizing social security is that we would be unable to pay benefits to the people who have already paid into the system. They essentially have nothing in their mythical "social security lockbox."

[461]

Because then we can't pay the NON PRODUCERS to vote for our fellow Democrats.

[Spock (rhp)]

because the people who vote and vote most frequently like taking money from those who don't.

***
think about it -- who votes and always votes?

elderly and mostly white.


who doesn't vote?

ex-felons -- disproportionately men and black.


who dies earliest and thus loses the largest portion of what they paid into Social Insecurity and Medicare?
black men.

who lives longest and thus gets more than their fair share from Social Security and Medicare?
mostly white women.

[strata]

government employees have what is called the 'thrift savings plan"..why not let all americans have what gov. employees have??the libs would hate that because it would give "power to the people"..and by God liberals CANNOT have that!!!!!