what does it mean to privatize social security?

[Katie F]

why would privatizing social security be good?

and why would privatizing social secuirty be bad?

[Patricia C]

It means the government would no longer handle it. It also means disaster.

http://www.socsec.org/publications.asp?pubid=503

[E=MC2]

'Twas the night before elections

*'Twas the night before elections*
*And all through the town*
*Tempers were flaring*
*Emotions all up and down!*
**
*I, in my bathrobe*
*With a cat in my lap*
*Had cut off the TV*
*Tired of political crap.*
**
*When all of a sudden*
*There arose such a noise*
*I peered out of my window*
*Saw Obama and his boys*
**
*They had come for my wallet*
*They wanted my pay*
*To give to the others*
*Who had not worked a day!*
**
*He snatched up my money*
*And quick as a wink*
*Jumped back on his bandwagon*
*As I gagged from the stink*
**
*He then rallied his henchmen*
*Who were pulling his cart*
*I could tell they were out*
*To tear my country apart!*
**
*' On Fannie, on Freddie, *
*On Biden and Ayers!*
*On Acorn, On Pelosi'*
*He screamed at the pairs!*
**
*They took off for his cause*
*And as he flew out of sight*
*I heard him laugh at the nation*
*Who wouldn't stand up and fight!*
**
*So I leave you to think*
*On this one final note-*
*IF YOU DONT WANT SOCIALISM*
*GET OUT AND VOTE!!!!*

[Sambo]

On the pro side:

- You manage it. Its yours, you know how much is in it.
- Don't have to worry about the government blowing it before you reach retirement age.

On the con side:

- Subject to the ups and downs of the market place.

[thylawyer]

It will mean that everyone will be responsible for his or her own retirement, such as a 401(k) or an IRA, and will decide whether to invest it in the stock market, money market funds or some other entity. It is the last remaining bit of the New Deal, which the big international companies want to get rid of so they can give their officers bigger bonuses and "mine" the working people for more of their money. It's the last hope of the neocons.

It would be good for employers, bad for people who work for an hourly wage or low-level salaries or part-time.

And if you invest in the stock market, you would hope you are not near retirement today, or you would not be able to retire until the market comes back up - if it ever gets as big as it was, unlikely as that is.

[Neutron Boy]

Priviatize social security means it will basically be insecure by corporations. I have to give E=MC 2 a standing ovation he makes a good point

[Marcello]

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.

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.