Do you still support McCain's plan to let people put 20% of their social security dollars into stock market?

[Hector Frodo]

Allow workers to invest privately
McCain today called for allowing workers for the first time to invest a portion of their Social Security in private accounts.McCain called for “bold, genuine reform that allows workers to invest some of their Social Security savings, privately, in higher yielding accounts.” “Promoting investment in America by every American worker would give lower-income Americans the ownership they deserve in the country we share, as well as grow their Social Security more rapidly,” said McCain.
Source: http://www.mccain2000.com/ “Press Releases” Jun 2, 1999

Option to invest 20% of payroll taxes in private accounts
McCain will present today his first comprehensive plan for apportioning the spoils of the nation’s current prosperity, calling for. a program to shore up Social Security through the establishment of individual retirement accounts. McCain also specifically allocates money to help Medicare, which like Social Security faces a financial shortfall as the population ages. He calls for workers to have the option of investing at least 20% of their Social Security payroll taxes in private accounts.
Source: New York Times, p. A21 Jan 11, 2000

[Smart-as-a-whip]

Yes! I do! I believe in America, I believe in capitalism. I cry Leavenworth to any Titan of Industry and Government Servant who breaks the laws of this great country for their own gain!

[Thomas]

i will not do such a thing...why should I invest my Social Security into the stock market. I rather risk it at the casino

[googie]

Depending on how astute a person is in investing I would have been extremely happy to have been able to invest 20 % of the payroll taxes into a private account. Since the Congress over the years, has let everyone share in the Social Security pot whether they contributed or not is the crying shame of the SYSTEM as it stands today. A drug addict, a pregnant female dips into the proceeds. If Congress wants to take care of these characters, put them on welfare. Don't take the contributions of our wage earning children and dole them out to the incompetents.

[mark32541]

Well actually it is a Bush plan.

McCain has not said what his Social Security plan is yet.

But why would I care, if other people wanted to invest part of their Social security ?

Why would you care ?

It will not effect your benefits in anyway.

Don't people have the " Right to Choose " ?

[justagrandma]

As I've said frequently, regarding both parties, consider the times.
But one thing should be noted, Social Securty was seen as the one adjunct to retirement savings and pensions that would be assured.
During the Great Depression people lost all their savings and money, even if they hadn't invested in the stock market, because the banks themselves had, and they didn't have any money to give their passbook holders. No FDIC back then. Anyone who is honest and has worked on Wall St. possibly an oxymoron, will tell you that its a form of gambling, and with any gamble you do two things, be prepared to lose, and don't bet the ranch.
Thats why despite Bush and the Repubicans love of the Street, the measure was dead on arrival, even they understand that its too much of a risk for some florist or ironworker to be expected to handle an account, or to make enough money to show growth and pay commissions.

[steel magnolia]

I still support Bush's plan to allow individuals to choose to invest 20% of their SS taxes. They would not have to put it in the stock market.

[Beau R]

I believe that the American workers should have this as an option. I realize that at this time, the economy is down, but any investment in America will pay off in the long run.