We should cut social security altogether... *AGRREE or DISAGREE*?

Question

I believe if you want to have money when you retire, you'll take control of your future and invest a percentage of your own paycheck into a savings account. If you don't, I guess you'll just have to work for your entire life, but that's your choice! Now, for the people who already have money in social security, they should be able to get it back immediately and the government shouldn't use it for other purposes in the meantime. What's your take on this and WHY?

Answer 1

It should be Privatized. That's the only way to save it.
Bush tried.
But the AARP (which is nothing more than an insurance company.) & the Democrats got it stopped.
They got it stopped by lying to the old gullible and scared elderly.

The AARP & the Democrats had a reason for getting it stopped: Money & Power.

Answer 2

No. The purpose of Social Security was to end elderly poverty. Realize that most Americans in the early 20th century COULD NOT save; they were simply not paid enough. So people got too old to work (if they lived that long) and had no way to provide for themselves Social Security provided that (reasonable) safety net, and nearly ended elderly poverty because of it.

"If you don't I guess you'll just have to work for your entire life" is completely narcississtic and ignores the realities of aging. Some people choose not to work (but most of those people have saved independently of social security) but most can no longer work. The body (kept alive by modern medicine) can't put in an 8 hour day. The mind may be going too. And then what? Let people starve? Help them? With what money?
The point of Social Security STILL is to prevent elderly poverty -- not make the elderly rich. The only reason the system may not be working in a few years is because (a) People are getting older and staying alive much older, which requires some adjustment on our expectations of retirement, (b) Congress invades the funds brought in for Social Security for other purposes, and has yet to ween itself off of it.

Plus, your solution is imperfect because you can't get "it back immediately." The Social Security system is pay-as-you-go. So today's funds go to pay today's retirees. There isn't money to be refunded even if that's what you want.

Privitizing social security is also dangerous -- it puts people's basic guaranty that they won't starve on the "wheel" of the stock market. It can also cause problems with the Market (because we would have continuous investment, raising prices higher, even if "hard numbers" such as earnings and capital wouldn't support such valuations). (And the GOP and their business interests didn't have "money and power" in mind with the thought of HUGE injections of government $$ directly INTO THEIR BUSINESSES?!?!?!)


the GOP for decades tried to end "entitlement" programs. Although we've had "reform," the GOP has lost this war. Social Security is here to stay--at least for 50 more years. And to be honest, it generally works okay. We've had to make adjustments (retirement age, benefits, taxes, etc.) over the past few years, and we'll have to make a few more as the Boomers get up there and retire, but we're talking about ending poverty, not paying for your vacation home in Aruba.

Answer 3

I am waiting breathlessly what the libs will say when Soc.Sec goes belly up and the only way anyone will collect anything is by raising payroll deductions through the roof or cutting benefits. After all they are the ones who keep saying there`s nothing wrong and nothing needs fixing.

Answer 4

How silly is that question.
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There are people who will never have anything to offer in return for something from other people.
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There is room for a certain amount of altruism (social programs) in this country.
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Answer 5

disagree....

everyone is taxed for social security, so no one is loosing money. what's wrong with it being governement monitored instead of left up to individuals.
I find nothing wrong with social security, expept for the fact that it is running out.