Privatize Social Security?
PintoBerg
05-02-2005, 02:12
I just saw our president George W. Bush give a speech on social security. He says it needs to be privatized in order that my generation can have money after retirement. He also said they want ideas concerning social security. Pres. Bush made private accounts sound like a good thing but, I would like to know what everyone else's thoughts are so I can be educated on this subject.
Dempublicents
05-02-2005, 02:14
Bush no longer uses the word "private". It is now "personal accounts." Some PR guy told him people liek that better.
Darkwater9
05-02-2005, 02:17
Mabye I am missing the point of this privatizing of social security. I do not see why people need to invest money before they retire. I think that undermines the entire idea behind social security. When this issue first came to the surface in the 1910s and addressed more realisitically after WWII, the whole idea was to support those who had worked all of their life. Investing 2/3rd of the money early has a major risk involved. A recession can cause extensive damage to a person beyond retirement. The entire idea seems to make no sense to me.
PintoBerg
05-02-2005, 02:22
The number of workers in our work force is decreasing. If the current system has its way there will 2 people paying for one person receiving social security. After WWII there was 16 people paying for every retired person. So economists have confirmed our social security fund will debunk if nothing is done. Also, it is a fact if you keep your money in the stock market for 17 years you will increase your money. Bush and his financial whizards suggest a conservative approach with long term bonds and stable stocks.
Salvondia
05-02-2005, 02:31
Social Security is a Ponzi scheme scam and I would love to see it completely and totally removed. Gone. Completely. Just deal with all people over age 50 and cut all future benefits to anyone under 50. If people aren't capable of budgeting themselves on what they live on today to invest enough for their future retirement, they don't deserve a retirement.
Super-power
05-02-2005, 02:39
Eh, Bush doesn't mean privatize - from what I understand, his plan is to create private accounts, which at retirement age the gov't would distribute to you . . . not as private as one would think.