Should Social Security be privitized?

Question

or ended?

Why should people be forced to pay into a system that they wouldn't subscribe to if they live in a free society?

Many people will never see even one dime of the money they pay into this system

In a free society, shouldn't individuals be given the ability to opt out?

Answer 1

Social Security is a Ponzi scheme. Time to abolish this scam

Answer 2

I agree with President Reagan who praised social security and former Speaker of the house, Tip O'Neil who said that social security was the greatest program that has ever been enacted by congress. It has kept millions out poverty. It is needed now more than ever when few people have pensions that guarantee them monthly payments for life and which are adjusted for inflation. Take a look at what President Reagan, Congressman O'Neil and Senator Baker had to say April 20, 1983, when the Social Security Amendments Act was signed into law, and FICA taxes on workers were raised in order to build up a large trust fund in to take care of the retirement of the baby boom generation:

http://www.youtube.com/watch?v=0-91W5LS0E8 (Part 1) and
http://www.youtube.com/watch?v=JCDjqy5_V2w (Part 2)

There is a problem however: Congress has been borrowing and spending the surplus money in the social security trust fund as if it were free money and congress has no plan in place to pay it back when it is needed to pay benefits. President Bush's privatization proposal is just a smoke and mirrors trick that is designed to distract the public from what has been going on. - Under his proposal, workers would have the right to direct a portion of their FICA taxes to the stock market. Then when the worker retired, the stock would be sold and the government would keep all the money and pay the worker an annuity for life, just as it does now. The solution is not privatization. The solution is to vote these thieves out of office. For a great explanation of what has been going on, see:
http://www.youtube.com/watch?v=Tts2uTWt6e8

Answer 3

Yes.

In order to do this, first we need to get Congress and all federal government workers as part of the Social Security network. They currently aren't in the system. This should be a huge red flag that something is wrong.

It is painfully obvious that not only are you losing 13% of your paycheck right off the top, in order to secure your future, you have to put aside the same or even more in order to have money to retire on. Because not only is there no guarantee you'll see any money from your "contributions", the fact is that the SS benefits are not yours at all - you get what the government will give you.

You are NOT entitled to any money back, there never was a "lock box" - the moneys have always gone into the general fund.

It is a scam, a sham, and it makes a mockery of the principles this country was founded upon.

Answer 4

Yes. It should be an optional government program. There is an alarming trend going on in our country - cater to the lowest. It starts in public schools. They are catering to the kids who can't pass the tests by dumbing down the tests, creating a disadvantage for those who actually want to learn. And with SS - cater to those who do not have the desire or ability to save for retirement by TAXING everyone. The amount of money that is taken throughout a person's working life will rarely be returned 100%. If I were ALLOWED (I hate using that word in reference to what the government lets me do) to take that money and invest it , I could make that money multiply.

BUT privatization will never happen. The government likes the fact that it's minions are increasingly depend ant on them. The more power to subdue us with.

Answer 5

Social Securtiy is one of the oldest, most successful gov't entities created by our Gov't. What would Bush have done for money if he didn't have the fund to borrow from?
Educate yourself:http://www.justfacts.com/ssdebtimpact.htm

In fact--we should take the cap off the social security tax all together. The funding created would be more than enough to start a Nation Health plan or fund other much needed social programs like education, border patrol, DHS, and the like.

The call for allowing Social Security to be privatized is nothing but a suggestion from Wall Street to get more funding into a system for them to profit from-
http://www.econop.org/SS-BushPLanPerils.htm

Answer 6

People should be allowed to opt out. However, society should also be conditioned to see a lot more dead people in the streets. That portion of the population whose best laid plans went astray won't have anything. They will became homeless and penniless in their old age. If social Darwinism is your bag then watching your mother, uncle, cousin, yourself succumb to the varibles of life should be acceptable. On the other hand some will survive very well depending on which way the wind blows for them.

Answer 7

individually i'm no longer likely to place self assurance in Social protection and you'd be a fool to accomplish that, My 401K has lost money this 3 hundred and sixty 5 days whether it nonetheless has outperformed SS in the long-term. yet somebody else is right SS is bankrupt and a fraud, there is not any lock container, it is in easy terms lumped in with the standard fund and gets spent each and every 3 hundred and sixty 5 days. It needs to be deserted, drop it like its warm.

Answer 8

Privatization provides the best chance of Social Security to be a viable, thriving, financial availability for the elderly of the country.

Government, as it has been proven - time and time again - is the worst run organization in any country. Politicians are not entrepreneurial, and beaurocrats make terrible managers. If the system were to be run by real business people, it wouldn't be in the shambles it is...

Answer 9

It should be abolished. But if they must keep it, then yes, the least they can do is allow you to invest a portion of what they steal from you.

Kinda like letting you take your good shirt off before they beat you to a pulp so you don't get your shirt dirty.

Answer 10

I believe that you should have the right to put this money into the stock market if the person wants too. It is their money that is being unfairly collected from them for retirement purposes. So they should be able to invest it in stocks or funds approved by the SSA and you should also be able to pass the money down to your kids or grand kids. But when that is proposed, we are killing the program. Yeah right!