So cons, is privatizing Social Security the ONLY solution to the problems it faces?

[★Ŕ♡MΛŔƐ★]

And is it the least drastic solution? Or is it just the one that you keep being told about by Fox and their ilk?

Every time I post something about Social Security, all the cons tell me "Something drastic must be done or we won't have any money when we retire." The entire shortfall could be avoided for decades to come by simply raising the income cap from the present $110,000/year to a higher number.

But you knew that, right? Right?

[Cris Ray]

There are many Solutions but one big problem the Fools in Washington

[Profile]

Well if it was private they could not steal money out of it. But look at how bad the fed is so who knows if privatization is good or bad.

[Jim]

it's the only one YOU feel confident in demogoguing

[Libraryanna]

But doing something sensible like that doesn't bring a bunch of money to the corporatocracy like privatization would. Can you image how terrible it would have been if everyone was privately invested when the market crashed under Bush's economic policies?

Another way to help is to make it illegal for the government to borrow money from the SS fund, especially when they either dont' pay it back, or pay no interest on what they borrow. It wasn't meant for that and it should not be used for that. If they left the money there to earn interest, it would last a lot longer.

[john]

i find it funny since george w bush was around the cons want to privatize it and willards for it too but if willard gets in screws with medicare buy midterms the republicans will lose control of the house and a leash will be put on romneys bush policies

[WendyB]

I'm POSITIVE I can handle my money better than anyone else, so I would really be happy to have SS privatized.

[Heathen]

Wouldn't even be an issue if every one was back to work and paying into it again and separating us from sharing it with Mexico via NAFTA.

Privatizing it would put it at the mercy of the stock market.Didn't a lot of people lose their savings because of the stock market?If not for social security,most of those retired and/or disabled and soon to be retired would be out on the streets.

[brenton s]

"The entire shortfall could be avoided for decades to come by simply raising the income cap from the present $110,000/year to a higher number."

I work with Fix Social Security Now. If you are going to post a question, at least research it at SSA (dot) Gov. Raising the cap does not fix Social Security. It does not even make it solvent, which is more than 12 trillion dollars from being fixed.

There are many problems with your proposal beyond the fact that it doesn't work as advertised. First, you are shifting the financing from self-funding to a public dole where benefits are not connected to contribution. FDR rejected your idea because it makes Social Security a political priority. But you knew that right?

Second, your proposal will 'fix' Social Security by breaking everything else. Once we raise taxes on the rich to make Social Security 'work', you will lower what they can pay for other priorities. Any dollars raised as payroll taxes could have been raised as an income tax and used to control the debt. So you aren't taxing the rich, you are just shoving more debt on the kids.

So your idea doesn't work and isn't very bright. Not to worry privatizing the system isn't very bright either.

[Funloving]

Raising the limit from just over $100.000.00 to a Million, no matter how u get ur income!