Should social security reform be privatized and why? What type of ways should it be privatized?

Question

When should social security privatization funding start?
Ideas on privatization
How should privatized monies be used?

Answer 1

Problem is:

at the age u start paying SS, if u put the same $$
into a regular investment, you will have many times more $$$ in that investment than u ever will with SS.

The only good thing about SS is the safetnet aspect.
The very bad thing about it, is that some people will never get all they put in. People who die before collecting in full should have their descendents either get a chk in total or transfer remaining funds to their SS.

And/also whether rich or poor, all people who pay into ss should get 100% of what they paid in..........period.
Not getting it, means a future civil war in this country for sure.

Answer 2

Privatizing social programs will just mean the end of them. Obviously something needs to be done with Social Security, but not that. It would be nice to get 100% of what you pay into SS back no matter how much money you have, but come on! That's not going to happen. Americans need to quit being so selfish! Trickle down economics don't work. People on the lower end of the economic spectrum are not keen on saving a tiny surplus of money because inflation dictates that they will not get much out of it. On the other hand, more money for them now could mean a better life for them later if they use it wisely. Privatizing it will not be any better than public social security for them, and like every safety net, social security is for the bottom. Social security is about making sure that more people have some money, and not that some people have more money. The more people that are capable of staying above the poverty line, the more money will go into our economy, and in the end, the rich will get some of that, too. I guess rich people won't think that's fair, but it's time that the poor saw some fairness. It's better for everyone. Privatizing social security will only help the gap between rich and poor grow wider and wider.

Answer 3

Social security is a social safety net for those people whose wages do not allow them to accrue sufficient savings to support them during their retirement years. It should never, ever be privatized, because putting the profit motive into this system would be disastrous for everyone. People have the opportunity to put additional monies into IRAs and other private retirement savings programs if they have the money to do so.

Answer 4

Privatising public services is never a good idea. A company works for profit and for the good of its shareholders rather than the public its meant to be serving.

It always ends up costing a lot more for a lot less.