Republicans and Democrats can we all agree with an individual opt out system for social security?

[Nasreddin Hodja]

that way if you are a Conservative you can instead invest your money in privatization, while the rest of us can continue to use the older more steadier system that is already in place but with a few reforms, for instance the banning of any social security funds to those who chose to "opt out" for any reason, including disability! that should make Cons happy since they like draconian laws!

[Joe in texas]

Social Security is a ponzi scheme. If anyone but the government ran it they would go to jail.

I would gladly opt out, if the Feds would only give me the money I've already contributed.

[xpatinasia]

It's a terrible idea. Social Security was started because too many people hadn't planned ahead. Currently, the average 401K/IRA in the US for a retired person has $50,000. Not much after working for 40 years. Thankfully, there is SS to lend a hand. Everyone thinks they can do a better job investing than the government and many of those who opt out would have nothing for retirement.

[Infernal Disaster]

Fine with me.

Unlike yourself, I don't need to depend on the government for scraps. The system is already going bankrupt.

The money I retire on, was never going to be Social Security.

[Gene Rodenberry]

I agree-Let them opt-out if they want to
corporations can GAMBLE with their money NOT the rest of us.

[Rusty Shackelford]

That makes no sense, because after the Conservatives lose their money in the stock market, they will become Democrats and then demand their Social Security.

A Political Party should not be able to Privatize Social Security or Medicare. These Programs were set up because the Private Sector failed to provide security, and we should not put these programs in the hands of those who can destroy it.

[BekindtoAnimals22]

It sounds good on the surface but the reality of it is that people who will soon begin using it have paid into it all their lives but now depend on the younger working people to fund their social security payments. If people opt out before the boomer generation is gone, there won't be enough money for their social security. In other words, there is no way to do that without throwing millions of people into severe poverty through no fault of their own. It might have been possible if the social security trust fund hadn't been robbed for many years and thrown into the general fund replaced by IOU's. No way at this point. It doesn't do any good to argue points like this or point fingers at one party or the other. Reality bites.

[flower]

You have privitized retirement accounts called 401Ks or IRAs. Social security is a steady reliable benefit paid to you if you should lose everything else through speculative investing, early withdrawal, etc. If you become disabled and stop working or a spouse dies without funds for his family, for example, social security pays them benefits. We cannot opt out of a federal mandate like paying social security, medicare because your employer matches your contributions. Maybe they should stop doing that for you. It is like with the health insurance mandate, if a few million people dont comply, it affects the cost of premiums for the rest of the people. If you could opt out by an Act of Congress, you would endanger the benefits currently paid out to retired, disabled, widows, children, indigents (SSI).

[Lenny]

Well social security wasn't exactly going to pay off for many people to begin with. The age at which you received money was at 65. The life expectancy of a person at the time was lower at 63, I believe. Well, science got ahead of the government and now people actually draw from the social security pool (or what the government wants us to think is the social security pool, since they used the money and now there is none of it left). It was just another way to get money. Fortunately for me, I get to pay the social security tax twice since I pay for myself and my business. And I probably will never see a penny of it again. Oh joy.

You let people "opt out?" Say good bye to social security. Good riddance.

[Philip McCrevice]

I'm for it! Let's do it now!

I will gladly sign a paper today giving up all my Social Security benefits if I can start putting my SS tax into my own 401k today.

I promise to not ask for any SS payment. You promise never to tax me for SS anymore.

Deal!