Do you think that our current Social Security System is outdated and needs to be reformed, restructured or eliminated all together? any suggestions, comments?
2007-09-07 07:13:20 · 6 answers · asked by pisces02 4 in Politics & Government ➔ Government
Social Security has always been a Socialist type of system, except for the limits on what is payed into the system by the very wealthy.
The system has been over-stressed by the fact that the money is given to people that were never intended to receive it when the system was first instituted (thanks primarily to the Johnson administration's "Great Society" programs).
So what do we do now?
If nothing is done, either the system will go bankrupt or today's youth will go bankrupt trying to pay for the benefits.
Action MUST be taken. It is up to US to elect those with the intelligence and courage to take appropriate action.
Whatever the action taken, it WON'T be popular, but could it be worse than doing nothing?
The LONGER we wait, the tougher the solution will become.
2007-09-07 07:30:19 · answer #1 · answered by Philip H 7 · 0⤊ 2⤋
Social Security was never a sound system. It was a Ponzi Scheme that was established during the FDR administration as a voting-buying mechanism and a short-term solution to the government's cash-flow problem at the time. Of course, it was never presented that way to the citizens, but then citizens are rarely told the truth by their government. Nobel Prize winning economists have all weighed-in on the social security system over the years and all of the reputable economists have concluded that the entire social security system was never properly structured, financed or administered. People speak of a social security trust fund. There is no such thing. The social security system has actuarial debt in amounts so large that it far surpasses the comprehension of human beings. Read the government's reporting of the financial condition of social security....but you'll have to pay attention to the footnotes, because that's where they bury the real truth.
2007-09-13 03:43:18 · answer #2 · answered by Don C 3 · 0⤊ 1⤋
Yes, it needs to be reformed. I like the idea of letting me have say 2% of the money I pay, to invest in the way I want. The argument that the stock market may bomb dosen't work, because it always comes back. If social insecurity is going to go bankrupt like experts say why continue to contribute. Finally, who do u trust with your money, yourself or the government?
2007-09-07 08:31:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It's financially sound and one of the best legacy's of Franklin Roosevelt. The reason it's under assault is that financial interests want the action of brokering savings into the stock market which within weeks, maybe even days, will be a shadow of its former self. Ask your private pension holders how they like the likely prospect of a one-way roller coaster ride to the bottom. Leave Social Security alone and prevail upon your Democrat members/candidates to vow defense of this remarkable safety net.
One hour later: Please allow me to submit a document for your reference. See:
http://tinyurl.com/2opmfm
2007-09-07 07:24:27 · answer #4 · answered by Madmunk 6 · 0⤊ 0⤋
it may be social but it's sure not security. yes it does need to be structured to fit present times and the changing economy. it was introduced 70 years ago and times have drasticaly changed.
2007-09-07 07:20:50 · answer #5 · answered by windybrr 3 · 0⤊ 1⤋
...don't touch a thing... just keep sending me my monthly check and all you youngsters just keep working your butts of to pay for it... I love it !!! what a Country !!!! how about a cost of living increase...?
2007-09-14 04:45:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋