Conservatives/libertarians - are you sure privatization of Social Security is the free market approach?

[The Daily Elitist]

It seems to me that if privatization - generally sold as a free market alternative to the existing system - would have passed, there would be intense pressure on government to reflate asset prices and/or compensate people who've "lost" lots of money.

If memory serves, I think I read a libertarian perspective agreeing with this conclusion on the Mises Institute site a while back. However, I think it's still very much a minority position amongst libertarians and conservatives - could one of you enlighten me?

[Chosen1]

No, You seem to like your generalizations so I will leave you to them.

[Roboron]

The problem goes back to FDR, it is a socialist program and should never have been created. Look at the beast it has become.

[fatriver671]

Social security is DONE it FAILED . Cause when the Government manages your $$$ you might as well burn it in a fire place.

[Caitlin]

Libertarians believe you should be able to opt out of Social Security and invest your money in your own personal retirement account. An account that you own and control - one that politicians can't get their hands on.

Republicans and Democrats say it can't be done - that your Social Security taxes are needed to pay benefits to today's retirees. Instead of letting you invest in your own future, they want you to have faith that someone else will pay your benefits when it comes time for you to retire.

[bob k]

Your English is not that great, but good point. The conservatives wanted to privatize social security. Can you imagine if they did under this economy? Your grand ma and mine would be receiving half of their checks. Say no to the party of NO.

[End Fed]

Government should not force people to save for retirement, it is a choice they must make for themselves.

Do you really trust the government with your money? The government has turned social security into the biggest ponzi scheme in history.

[Michael D]

if you privatize there should be no government pressure. if there is then it hasn't been privatized. the only reason there was a push toward privatization was because the government screwed it up so badly. if you have an ice cream fund but you spend that money on pizza your not going to get any ice cream. i want to be in charge of my ice cream.

[Zinger]

I'd much rather be in charge of my own retirement then letting Barny Frank and Kennedy manage the money.

SSI is a joke, its a ponzi scheme that would shame Madoff

SSI is bankrupt, worthless, zip

My Ameritrade account is far from worthless, as I invested heavily into gold.

If you want to eat Alpo and live on a park bench during your "golden years" then let Obama and Kennedy and Frank do your retirement planning.

As for me, I have a 15 year mortgage, one rental property, and gold

The SSI tax I pay is just another liberal rape.

[xiphos]

I am absolutely sure.

In most cases, the interest earned in socialist security is less than 1%. Picking investments at random might produce a higher return.

I'd prefer to opt out. Too bad I'm not given the freedom to choose.

We are simply too stupid to be trusted with our own earnings.