Privatizing Social Security....

[g8terh8ter_eric]

I really like this idea, so I was wondering who else liked and who else had an issue with it. Also here is a link to daveramsey.com to calculate how much you would be worth or earn IF it were privatized...

Social Security Reform - Making the Case for Privatizing Social Security

No this isn't a plug for Dave or anything, this is a thought that in all honesty could help the American people out.

 

[emainvol]

I really like this idea, so I was wondering who else liked and who else had an issue with it. Also here is a link to daveramsey.com to calculate how much you would be worth or earn IF it were privatized...

Social Security Reform - Making the Case for Privatizing Social Security

No this isn't a plug for Dave or anything, this is a thought that in all honesty could help the American people out.

There are good arguments for and against privatization of social security.

here are some against it, and reason number 12 is big.

 

[volinbham]

Even if SS is not privatized in the sense that individuals control a portion their money, it's nuts that the government doesn't at least take a portion of SS contributions and use investment vehicles to grow the endowment.

 

[utvolpj]

Heard a guy on the radio say we should use the word personalize rather than privatize. It's all in the marketing.

 

[volinbham]

I can see the problem with the word privatize and I can see the problem with putting this in the hands of every American. We know some will make risky, irresponsible investments and while that is their right and responsibility, they will still end up needing govt. support thus we will still need an SS fund to help those.

As a middle ground, I'd advocate the "lock box" idea that good old Al Gore invented (I keed, I keed). Take a portion of SS revenue and put it into an investment portfolio (just like every other friggin pension does). As that portfolio grows, you are better able to cover the impending shortfall and perhaps you can reach a point were SS taxes can be lowered.

 

[BigPapaVol]

Let's all just stop pretending that gov't SS revenues are anything other than general revenue tax funds.

 

[GAVol]

Let's all just stop pretending that gov't SS revenues are anything other than general revenue tax funds.

Exactly . . . Social Security is just another line item in a bloated budget.