Instead of buying hummers, playstations, and going on exotic vacations they could save for their retirement.
2007-03-02 13:31:06 · 26 answers · asked by Gemini Girl 4 in Politics & Government ➔ Politics
That is a very good question...I think that Americans would TRY to save. But some ppl are not very responsible with money.
2007-03-02 13:36:49 · answer #1 · answered by Johnny Conservative 5 · 3⤊ 2⤋
You assume that most Americans can afford hummers, playstations and exotic vacations. A huge portion of Americans live paycheck to paycheck just keeping their heads above water. How are they supposed to save for retirement? Should they work one job to survive and one job for retirement savings. Then they might not have to worry about getting old enough to retire anyway. There would be plenty of money in SS if they would leave it in a fund but they don't. They pay what they owe each month and spend the rest. If they drop it, will they pay back all the people and employers who have paid so much into it over the years? No, because its gone.
2007-03-02 21:43:02 · answer #2 · answered by BekindtoAnimals22 7 · 5⤊ 2⤋
If you are under 55 don't expect there to be any Social Security. No Americans will not save. When the baby boomers' Retirement bill collides with the dwindling fossil fuels the 1st world's economy will spiral down. There will be less & less assets for any social programs.
This will happen because they are unwilling to think creatively about changing the economics of Renewable Energy.
Remember Social Security can ONLY invest in govermment DEBT!
If you put the funds in a locked box you would KILL the economy. Money circulating grows wealth! That is why before Japan redefined quality to durability business ran on planned obsolescence. Today the obsolescence is based on innovation.
2007-03-02 21:42:05 · answer #3 · answered by viablerenewables 7 · 0⤊ 2⤋
At least all the foreigners who are in this country illegally and milking the social security system would have to go home. America should clamp down on the multi-national corp, that are the cause of all these illegal aliens. Instead of persuing nonsensical non-binding resolutions on the war, they should be investigating just how all this illegal smuggling and political complicity happened in the first place? It' our national security for GOD'S sake. The dems are as useless and complicit as the neocons we booted out. No; check that..they are worse. UP WITH TERM LIMITS; THROW THE DASTARDS OUT!
2007-03-02 21:59:17 · answer #4 · answered by wtr2391 2 · 0⤊ 0⤋
In your world people are "buying hummers, playstations, and going on exotic vacations" in many elderly people's lives, after serving our country in wars, building our nation, they are lft witn making decisions between whether to eat or buy thier medication month to month.
My suggestion is for you to grow up, look at how most people live and be better American by helping fellow Americans (which is what Social Security was designed for).
2007-03-02 21:50:00 · answer #5 · answered by Anonymous · 2⤊ 1⤋
Did this dawn on you, if you can afford a hummer, you most likely have money in savings?
Americans will not save. We are relying on the government to take care of us in our old age.
I will tell you this. I don't want the government in charge of my well-being EVER. Not just with social security, but with health care, with taking care of me and my family.
I will do for my self, thank you.
I save now. I put money in my 401(k) to the matching point, I put 20% in savings, and money in my kids college fund. I do not live beyond my means now, so I can enjoy life later.
2007-03-03 12:18:19 · answer #6 · answered by uab_skinhead 3 · 0⤊ 0⤋
What are you talking about?!?!? There were just reports saying Americans actually SAVE too much. (seriously there were)
No, it would put more elderly into the streets. If you just save for the future and don't live your life you will miss out on so much. Plus, social security isn't much and if people think that it's some saving grace... they're in for a huge surprise.
Spend it while your young... be like me and get matched 150% in your 401(k) and party like a rockstar since it's all going Milhouse.
2007-03-02 21:52:46 · answer #7 · answered by Modus Operandi 6 · 3⤊ 1⤋
i doubt if it would cause people to save more. thank about it social security was never meant to be a total package for retirement, but a supplement to retirement yet a small percent of americans are building a retirement to be supplemented. it would be better if the fund wasn't used to fund everything else.
2007-03-02 22:04:52 · answer #8 · answered by George W 1 · 0⤊ 0⤋
There is no social security now. We just have a government program that uses those words as a name. The so called trust fund consists entirely of federal IOUs. Those of us that recognize that fact are already saving for our own retirements. Some people never will.
2007-03-02 21:47:23 · answer #9 · answered by STEVEN F 7 · 3⤊ 1⤋
This is a very good question, and I think it would bear 2 different answers.. The first one being, yes, of course people should be smart about their future and save money. But, then on the other hand, when you are making enough money to live comfortably, it all seems boring, who wants to just live, work and save, by the time retirement comes you are too old to enjoy any of it..
2007-03-02 21:49:57 · answer #10 · answered by ? 2 · 1⤊ 2⤋
Yes it would, but it doesn't need to be that dramatic. Many people would not save, and for them it would be a disaster.
Even if we were forced to save for retirement, that would be an improvement because the money would be ours.
2007-03-02 22:06:14 · answer #11 · answered by WJ 7 · 0⤊ 0⤋