Today if you are under the age of 30 you may never see social security and yet you will pay 7-8% of all your earnings into this federal payroll TAX. Don't we have a right to invest this money ourselves. We can do it if we are given the chance!
2007-02-03 12:28:05 · 12 answers · asked by cdcins 1 in Business & Finance ➔ Investing
NO. We ALL deserve to be able to get out of this pyramid scheme.
2007-02-03 12:31:24 · answer #1 · answered by Lisa A 7 · 1⤊ 0⤋
The social benefits issue is one that very few people appear to understand. Society works by exchange! People exchange their labor for wages, which they then exchange for the products of other people's labour. However, it was realised - a long time ago - that this society is cyclical. Sometimes there is a shortage of work & sometimes there is plenty of work: the reasons this situation exists could be debated forever! However, the turn-around between low and full employment can occur very quickly (for reasons that I will avoid) so a reserve of labor (workers) must be kept ready to fill the vacancies when they arise. That is one reason social benefits exist. Businesses love selling their produce: in-fact, it could even be argued that that is why they exist! So, in the times of economic down-turn, when there is high unemployment, surely it is in the interest of every single business that exists that the masses are provided with the ability to buy those products? Therefore, social benefits actually help create, generate, maintain & sustain employment for everybody in work in the economic system that we live in. Why can't people see this? Social welfare does not exist to care for people! If the capitalists thought they could make profit from letting us all starve to death, I assure you, that is "exactly" what would happen. You may be in a position to consider it unlikely that you will ever need social benefits, but I can promise you - from personal experience - "anything" can happen in your life. Don't forget, 50% of all two-party accidents are caused by somebody else.
2016-03-29 03:41:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I absolutely agree. I would be a millionaire right now if I had been able to take the money that I've been paying into the system and had been allowed to invest it myself in some type of IRA. I think having the option to opt out and invest that money yourself should definitely be given a chance.
2007-02-03 12:59:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes, you deserve an option. But that is something that is not going to happen, because the current beneficiaries have been promised those benefits. There will need to be a very creative approach to solve this intricate problem. With the huge ageing population, this scheme under the present conditions is unworkable.
2007-02-03 16:23:23 · answer #4 · answered by curio 3 · 0⤊ 0⤋
You actually have NO rights whatsoever other than that which society grants you - and no society, nor any rights and privileges it may or may not grant, is forever. That said, Social Security won't work unless everyone pays into it. If you know a more secure place to invest your money than in US Government bonds - which is where social security money is kept - you know more than every analyst on Wall Street. And I really, REALLY doubt that's the case!
2007-02-03 12:48:55 · answer #5 · answered by Anonymous · 0⤊ 1⤋
not likely. 99,99% of those who pay social security will never be sophisticated enought to support themselves on earnings from a fund replacing social security. the reason is simple. taxes would have to be aid on it, most people would eventually spend it before they needed it, an anuity from an insurance p[olicy would be more worthwhile, social security was never designed as the only support after retirement, but as a supplement to other retirement income, and if you did have it coming to you for investing, you would likely lose most to idiotic get-rich-quick schemes put out by unscrupulous individuals and corporations and would never see a dime of it in return since they would abscond with your money to some offshore bank and you could not get it back.
people like george bush, and his fellow idiots have no idea how to run a company let alone a very complex retirement plan for millions of people. he couldn't even keep his own company out of bankruptcy, soi how is anyone supposed to think he knows how to invest money for the rest of america?
2007-02-03 12:51:30 · answer #6 · answered by de bossy one 6 · 0⤊ 1⤋
I would hesitate to use the word deserve. The entitlement philosophy is part of what got us into this mess with social security. You may invest the money, and others may not. As long as our society attempts to care for those who do not make the choices to take care of themselves we will have programs like social security.
2007-02-03 12:38:27 · answer #7 · answered by Shelley 4 · 0⤊ 1⤋
The simple answer is NO! The reason is that your social secuity payments are used to fund the social security checks of retired people. If you and your under-thirty buddies opt out, then the Government has to borrow the money from someplace else.
So, opting out doesn't help the the Government solve the problem - it makes it worse!
2007-02-03 12:39:05 · answer #8 · answered by rarguile 6 · 0⤊ 1⤋
Very true, but start putting some of your money away your self. It comes from years of people not paying much into the system but reaping standarized benefits when they got old enuff. I only have 20 more years to work and by then I will probably be your greeter at Wal-Mart. Please be nice when I offer you a sale ad.
2007-02-03 12:35:44 · answer #9 · answered by biker_beeotch 2 · 0⤊ 0⤋
I think you do and you should call your Representative and demand the law to allow it. I wish I had the option when I was 30.
2007-02-03 13:42:25 · answer #10 · answered by golfnut_18 1 · 0⤊ 0⤋