NationStates Jolt Archive

Good evening to all you viewers out there in t.v. land. I'm sure this has been posted several times prior, but here it is again. What do you think of Bush's social security plan? Megh.

Meh! is what I think of Private Accounts.....

Private accounts won't work. I'm firmly convinced that most people can't be trusted to balance a checkbook. Letting them handle their retirement money will be disastrous. Plus the next Enron style fiasco might put the entire population over 65 in the poorhouse.

Wait, he introduced a plan? When did this happen?

It's always happening, haven't you noticed, all he does is put forward plans, most of which are there to help his rich friends and are not so much for those of lesser "value"

Private accounts won't work. I'm firmly convinced that most people can't be trusted to balance a checkbook. Letting them handle their retirement money will be disastrous. Plus the next Enron style fiasco might put the entire population over 65 in the poorhouse.
This is because people are idiots. And idiots think people will run their lives for them. They don't learn to save money and then they complain when they don't have enough. They take out 5 credit cards, max out the limits and then declare bankruptcy because they don't understand that it isn't "free money". I think the social security system should go back to the way it was intended, a forced savings program with the option of non-idiots to invest instead of sticking the money under the government's mattress.

It's always happening, haven't you noticed, all he does is put forward plans, most of which are there to help his rich friends and are not so much for those of lesser "value"Last I heard, he hadn't put forward any plan, per se. Simply a few ideas, like private accouts and whatnot. That's not a plan; those are suggestions. Of course, he's still pushing his "plan", trying to garner support for it. The flaw, as I understand it, is that he doesn't have a plan yet. That's why there's so much opposition to it at the moment. Nobody knows what it really is! It could be a plan to divert Social Security funds into attacking Mars! Nobody knows!

Unless he recently unveiled a plan. In which case then I'd like to see a source for it and then read about it mahself. And then mebbe talk to some economists about it.

It's always happening, haven't you noticed, all he does is put forward plans, most of which are there to help his rich friends and are not so much for those of lesser "value"
If you imply that these people are "rich" because they are intelligent and can handle finances properly and do enough research to invest wisely, then yes, I agree. How dare he try to help the "rich upper class"! How dare they build wealth based on hard work and intelligence!

This is because people are idiots. And idiots think people will run their lives for them. They don't learn to save money and then they complain when they don't have enough.Personally, I'm a financial idiot, and would prefer not to have to worry about my retirement beyond saving for it from my own earnings. Social Security offers that comfort.

But, if we allow people to invest seperately from the system, could that not possibly bankrupt the system? You know, too many young people investing and then all the old people not getting anything from them? My understanding is simplistic at best..

Personally, I'm a financial idiot, and would prefer not to have to worry about my retirement beyond saving for it from my own earnings. Social Security offers that comfort.

But, if we allow people to invest seperately from the system, could that not possibly bankrupt the system? You know, too many young people investing and then all the old people not getting anything from them? My understanding is simplistic at best..
I am not implying that everyone should be a financial genius. I absolutely agree that no one should have to worry about their retirement if they have made proper savings in addition to SS.

I think this second statement is why the system is so wrong. The way the system *should* work: you are forced to put money into a government retirement account (for the sake of argument, lets number these accounts with our social security numbers). Then when YOU retire, YOU get money from YOUR account. No other worker contributes or takes from your account. Somewhere along the way, the retirees began taking money from the new accounts and suddenly the government was playing catch-up. Spending the money as it came in instead of properly setting it aside.

Again, I don't pretend to be an expert, this is my view of things and how they should be.

Personally, I'm a financial idiot, and would prefer not to have to worry about my retirement beyond saving for it from my own earnings. Social Security offers that comfort.

But, if we allow people to invest seperately from the system, could that not possibly bankrupt the system? You know, too many young people investing and then all the old people not getting anything from them? My understanding is simplistic at best..
I am not implying that everyone should be a financial genius. I absolutely agree that no one should have to worry about their retirement if they have made proper savings in addition to SS.

I think this second statement is why the system is so wrong. The way the system *should* work: you are forced to put money into a government retirement account (for the sake of argument, lets number these accounts with our social security numbers). Then when YOU retire, YOU get money from YOUR account. No other worker contributes or takes from your account. Somewhere along the way, the retirees began taking money from the new accounts and suddenly the government was playing catch-up. Spending the money as it came in instead of properly setting it aside.

Again, I don't pretend to be an expert, this is my view of things and how they should be.