Loc: New Hampshire
So the government confiscates 12% of your gross annual income every year until your retire and then has no money to pay your benefits.<br><br>Yup, there's a valued social program we really need <br><br>Privatization? Hmmm.... I wonder why people fear taking that 12% and letting individuals choose how they would like to invest it for their retirement.<br><br>Remember it is your money, not the governments.<br><br>[color:blue]All your sock puppets are belong to us</font color=blue>
Problem is in how it's set up. It's not like in Unemployment Insurance where the money I get back is the money I paid into the system. With SS, my money (well, not mine, I'm unemployed ) pays for today's beneficiaries. It's why switching cold-turkey to privatization would not work. It's also why there's always been this doom and gloom about the boomer generation coming of age to collect SS benefits—is there enough of us younger whipper-snappers to pay for them? I'm not saying privatization is or is not the answer, just that it's most certainly not as easy as it's usually made out to be.<br><br>
<blockquote><font size=1>In reply to:</font><hr><p>It's not like in Unemployment Insurance where the money I get back is the money I paid into the system.<p><hr></blockquote><p>That's not how unemployment insurance works.<br><br>
I actually think the Bush plan doesn't go far enough. He's only talking about letting younger workers invest 2% of their SS money in private IRAs.<br><br>I'd go even further. Pick a cutoff date....40 and up are on the old system, 39 and under are on a mandatory 401K system where they can never take the money out in advance. The employer would be required, as with SS, to put the money in. <br><br>I think we need to be looking at an endgame for SS, not a partial fix. <br><br>
Loc: New Hampshire
They should get honest about the program too. Scrap Social security for those under 40, put their money in a 401K. Have a special tax called "Social Security shortfall not going to your retirement but someone else's" Tax come out of everyones paycheck to pay for the shortfall in SS. The next time someone comes up with another way the government can spend your money, everyone can say, "Hey wait a minute we're still paying for the last government screw up".<br><br>[color:blue]All your sock puppets are belong to us</font color=blue>
Exactly. <br><br>People need to realize that there is no social security. The government finances it out of the general fund, like welfare. There is no special account where your money awaits your retirement. <br><br>It's gone...the politicians spent it. <br><br>Now, we should honor the committment made to the seniors and the boomers, but how about means testing it? Rich people don't need handouts. It needs to be minimized, and then cut off at a certain age. <br><br><br><br>
Xplain's use of MacNews, AppleCentral and AppleExpo are not affiliated with Apple, Inc. MacTech is a registered trademark of Xplain Corporation. AppleCentral, MacNews, Xplain, "The journal of Apple technology", Apple Expo, Explain It, MacDev, MacDev-1, THINK Reference, NetProfessional, MacTech Central, MacTech Domains, MacForge, and the MacTutorMan are trademarks or service marks of Xplain Corp. Sprocket is a registered trademark of eSprocket Corp. Other trademarks and copyrights appearing in this printing or software remain the property of their respective holders.
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.