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With the stock market crash, isn't it a good thing we didn't privatize Social Security?
10-12-2012, 09:37 AM
Post: #11
 
Privatizing Social Security would have been like giving Bush our tax money and him going off to Las Vagas!

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10-12-2012, 09:37 AM
Post: #12
 
Yah, sure unless of course you realize government was the enabler for all of these banks to make toxic loans ultimately driving us right off of a cliff...and placing us in our current recession.

Social Security is a Ponzi scheme...and beneficiaries are already getting less than what they were promised...yay government again!
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10-12-2012, 09:37 AM
Post: #13
 
no because everything we see and touch depends on the Stock Market
if you lose your base of credit~then you have no future
Social Security is failing and so is Medicair and Medicaid
it won't take many more years and they are going broke

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10-12-2012, 09:37 AM
Post: #14
 
Considering the Gov. just spent the last of the funds and borrowed a trillion more just for this year, I dare say the SS. Funds are all, long gone.


But hey you still got your $7.00 a week coming, if you have a job.
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10-12-2012, 09:37 AM
Post: #15
 
Depends on how you look at it.
1. We had a simular run until about 1980, the dow was at 800 then. If the Dow is at 8000 today, and if it is 80,000 in 30 years.
2. If taxes run lower Social Security will loose just as much as this market drop!
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10-12-2012, 09:37 AM
Post: #16
 
There's no difference between abdicating all your responsibility to the government and abdicating it to a broker....it's a simple character issue.

All I know is that my private investments have outpaced the market and Social Security over the past 10 years....including the many market drops. Any smart investor will tell you they account for the ups and downs.
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10-12-2012, 09:37 AM
Post: #17
 
Hell yes. When he was talking about that crap, I looked at the young adults in this country and shivered. I was very afraid of what they were going to do with my generations money. Ohh, scary! lol
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10-12-2012, 09:37 AM
Post: #18
 
Since the Democrats destroyed the Stock Market to get Socialism who really cares.
If you think Social Security will be there and you are under the age of 40 you must be joking anyway.
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10-12-2012, 09:37 AM
Post: #19
 
what difference does it make,there is no social security trust fund,it is a budget item,actually if investment would have been in it,the stock market might not have dropped. only difference would have been the government wouldn't have had it's cut. but make no mistake,there is no money in social security it was spent in the 60's to create Johnson's new society since then taxpayers pick up the bill every year for social security
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10-12-2012, 09:37 AM
Post: #20
 
Try this : for each year you've worked, take the amount of social security tax you paid, and double it. (employers pay an amount equal to the amount you did)

Multiply that amount by the interest paid on a money market, cd, or govt treasury bonds. These are very safe investments.

for each year, add twice your SS contributions, and calculate the interest, adding it all together.

I think you'll find that you could be retiring as a millionaire, instead of expecting a pittance every month, which the govt. can only afford to pay you, if they keep printing loads of money, thus making your pittance worth even less. Also, if you died before using it all, your family would have the rest.

A better investment mix would include some stocks, which are a good hedge against inflation - their value increases as products become more expensive. For me, a lot of my contributions would have been made before the S&P crossed 250 (1986) or 500(1995). I'd still be well ahead, even though contributions over the last 8 years would be at higher prices than current value.

Also, lets consider the effects on the economy, if more retirement money was invested in productive business, instead of the vast wasteland of useless or counterproductive government programs.

And consider the impact on govt. spending, if they did not finance it by looting the SS "lockbox", or by selling endless bonds - thus expecting that future workers will pay for them.
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