Bush going to propose privatizing Social Security again tonight.

[Arrian]

Personally, I wouldn't mind the idea of the OPTION of investing my SS money in stock funds/bond funds/etc like my 401(k) or IRA. Higher risk, higher potential return.

But then again, since the point of SS is supposedly to provide retirement benifits to citizens (whether they want 'em or not ), having an option where you could actually lose the money is probably opening the door to all sorts of whining by people who do it and then want to blame the government when they lose. So nevermind then.

-Arrian

[DinoDoc]

Originally posted by Sava
Yes!!! Let's rely on corporate America for our retirements!

You're counting on the government to provide for your retirement? That takes a special kind of stupid.

[Arrian]

Dino.

-Arrian

[Sava]

Originally posted by DinoDoc
You're counting on the government to provide for your retirement? That takes a special kind of stupid.

At least government is accountable to voters... can't say the same thing about corporate America. But go ahead, trust your future to Ken Lay...

[DinoDoc]

Originally posted by Sava
At least government is accountable to voters...

That makes piss poor performance when compared to other options acceptable to you. This just keeps getting more amusing.

can't say the same thing about corporate America.

Actually we can. When run by them, Ponzi schemes are against the law. We can not say the same when the government does it.

[Patroklos]

Personally the people going on Social Security in the near future are the ones who created the overly ambitous system, AND the ones who made it insolvent by setting the trend of spending the money on other things.

It is like your parents dieing and leaving you with a 100,000 oustanding loan instead of an inheritance, and knowing about it ahead of time. Only our parents are not dead yet....

Take their SS back for bieng retards.

[CharlesBHoff]

I was looking at the Rich Dad and Poor Dad book on the the subgest and he say privatisn SS is than real dumb idear as the average person doesnot know how to invest in the stockmarket at all. Plus bush plan only allow you to invest 1% of your SS money anyway so it you paid in 10000 dollar this year you will only be able to invert 100 dollar in stocks.

[Gatekeeper]

Originally posted by CharlesBHoff
... bush plan only allow you to invest 1% of your SS money anyway so it you paid in 10000 dollar this year you will only be able to invert 100 dollar in stocks.

Woo-hoo! Penny stocks, here I COME!!!

[Patroklos]

Thats why they should leave open the CHOICE to invest in the government or the private market. Part of bieng a democracy. Both having the choice and simultaneously taking resposibility if you choose wrong (people forget that second one.

Combine that with not allowing the the government to borrow from those who do stick with them and you have a pretty full proof plan. Had it been like that from the beginning that is. But they didn't and there is no painless way to rectify the boomer's mistakes.

[CharlesBHoff]

Originally posted by Gatekeeper


Woo-hoo! Penny stocks, here I COME!!!

Penny stocks are the riskist investment on wall street. It like puting all of your money in junk bonds very riskly.

[GePap]

So were will the 1 TRILLION dollars to do this come from? anyone?

Anyone care that moving the retirement age back, say to 70 years old, would extend the life of the system by decades?

[chequita guevara]

Originally posted by Patroklos
Thats why they should leave open the CHOICE to invest in the government or the private market. Part of bieng a democracy.

We do, and that's why polls overwhemlingly oppose the privitization of SS. That's why actually attempting to privatize it would be political suicide.

[JohnT]

Originally posted by Sava
Yes!!! Let's rely on corporate America for our retirements!

The same corporate America, who out of the Fortune 100, 67 companies have been CONVICTED of crimes. That doesn't count those who have gotten away.

Privating Social Security is such a DUMB idea... anyone who thinks it is good is CRIMINALLY STUPID!

You know Sava, with your penchant for using CAPS and OVERSIZED LETTERS you have a very bright future writing for Chick publications, you know that?

[GePap]

The sole problem is SS is that people are living longer without being productive. So, if one changes the system to account for this, say, make people work longer before they can get in (and perhaps end the ability to retire early and still get benefits), well then, you have "fixed" the problem.

The call to privatize SS has nothing to do with really "saving the system", but is an ideological opposition to the notion of SS as it works today.

[Arrian]

At some point the age should probably be changed, yes, since the life expectancy of Americans has gone up since SS was created.

The rest of the money will have to come from either a) tax increases; b) spending cuts; or c) both.

Personally, I don't think we need, what is it now?, SIX supercarrier battlegroups. I don't think we need 1/10 of the nukes we already have, let alone "mini nukes." I'm sure we can cut some from the Air Force too. The Army I'd leave the hell alone, at least until we get out of Iraq. Though future procurement could probably stand some cuts. I'm sure there is all sorts of pork in that military budget that could be cut.

Freeze the salaries of Congress, the President and the Cabinet until the government runs a surplus for four straight years (hopefully said surplus will be used to help pay down the debt).

Reverse the Bush tax cuts.

And see where that leaves us. It's probably not nearly enough. We will have to cut more, and tax more too, until we close the gap.

This country has been living beyond its means for quite some time now. The sooner we tighten the belt and deal with the debt we've racked up, the better.

-Arrian