Can you imagine if Bush had privatized social security like he had planned?
January 3, 2011 by Social Marketing Superstar
Filed under social marketing plan
With the market the way it is, they’d be bailing out a lot more than just banks. McCain has suggested he would favor the same plan. Do you think it’s a good idea to tie social security to the stock market?
So you don’t think Americans are smart enough to invest their own money?
OOOOOOOOOuuuuuuuuuucccccccccccccchhhhhhhhhhhh!!!!!!!!!!!!
We’d all be suckin the big one. It just goes to show, presidents should not be guys we like to drink beer with and hang out with, they really do need to be pretty damn smart.
I can imagine myself having money when I retire
Yes, i would be in a better position now because I could have invested in something more secure and had less money taken out of my check every two weeks for social security taxes.
every day this question gets asked, it’s still a good idea to privatize social security, if you disagree then you know nothing about investing in the stock market. As it stand now social security is a massive ponzi sceme that will go broke
Yes stop being so short sighted the stock market has average 10% gain over the last hundred years even with the great depression factored in. A little caveat for you I went on the internet and place $40 a week in a retirement account at 8% for 40 years it came up over 1.4 million with SS i will be lucky to get $1400 a month and if I drop dead at 65 the government keeps my money. “HOW THE HELL IS THAT BETTER”
Couple of points:
The social security (SS) privatization plan does not propose REPLACING SS, but allowing people to invest part of their SS money in “select” funds with a proven track record. You never invest for the short term. Recessions always turn around eventually. If it ever gets to the point where they don’t, we got much bigger problems than Social Security to worry about.
Whether you agree with Bush and McCain’s or not, they are right about one thing. Social Security has got to be revamped.
What they are wrong about is how soon it will be in trouble… It’s in trouble NOW. The federal bonds bought by the fund, which will have to be cashed in soon to pay for the growing number of seniors, will require the government to pull funds from general revenue… That will increase the national debt dramatically. The SS money is NOT in some special bank account. Its being used by the government, so we all will pay the price for it’s mismanagement once the Piper must be paid.
No. Because if the stock market were to crash, everyone who gets social security will be bankrupt. That also goes for people who has annuitys in holdings for their retirement plans, and of right now the way banks are crumbling, there would not be enough money to keep bailing out other banks that would fall under the same situation.
I wouldn’t say it’s private enterprise anymore, welcome to Communism under George W. Bush