Privitize Social Security?

What's your opinion on SS?

Seems like a total Ponzi scheme to me -- take wealth from one demographic(Young) and distribute it to another(Old).

I sincerely doubt Generation-Y, and later will even have any like SS, medicare, etc...

I don't understand why we can't just allow individuals to maintain, and monitor their own investments. I don't know the exact yields, but I doubt SS can offer better returns than NYSE, Gold, Bonds, or Treasury Bills.

What happens if I decide not to retire? I paid all that money for practically no personal gain? Sounds pretty awesome to me. 

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Put it in the hands of the people and not the government. I like it.dave123321

Bah, its all the baby boomers fault.

Greed, so much greed.

Looking after the elderly is one of the best traits humanity possesses.

SS is p. safe.

medicare looks worrying, but that's really being driven by the increasing costs of health care - something that definitely needs resolved.

I wouldn't be against people having the choice of opting into a different investment with higher yields. 

I think many things should be privatized, including social security.  Most of government run agencies would be 100x more efficient if they cut regulations and let private business run them.

Um you should be making and monitoring your own investments

What's your opinion on SS?

Seems like a total Ponzi scheme to me -- take wealth from one demographic(Young) and distribute it to another(Old).

I sincerely doubt Generation-Y, and later will even have any like SS, medicare, etc...

 

I don't understand why we can't just allow individuals to maintain, and monitor their own investments. I don't know the exact yields, but I doubt SS can offer better returns than NYSE, Gold, Bonds, or Treasury Bills.

What happens if I decide not to retire? I paid all that money for practically no personal gain? Sounds pretty awesome to me. 

Fightingfan

our money is backed by nothing physical or of any real value  and when they need more they send a note to the fed saying hey! print some more of dat shyt up.

people would get the cold sweats if they had any idea how the us money system is set up and that the rest of the world is backed up by it.

i know i do.

As the issuer of the currency, there is no solvency constraint at the government level as there might be for a household, state or business.  In this regard, one must be careful comparing the federal government to a household because the federal government has no solvency constraint (i.e., theres no such thing as the federal government running out of money as it can always call on the banks and the Federal Reserve to serve as agents of the government).  Households, on the other hand, have a very real solvency constraint.

http://pragcap.com/understanding-modern-monetary-system

I don't understand why we can't just allow individuals to maintain, and monitor their own investments. I don't know the exact yields, but I doubt SS can offer better returns than NYSE, Gold, Bonds, or Treasury Bills.

What happens if I decide not to retire? I paid all that money for practically no personal gain? Sounds pretty awesome to me. 

Fightingfan

 - Did you know that you can actually do that?

 - Actually at a certain age you collect Social Security whether you're working or not.

I think many things should be privatized, including social security.  Most of government run agencies would be 100x more efficient if they cut regulations and let private business run them.

GOGOGOGURT

That must be why Medicare is actually more efficiently ran than private insurance.

[QUOTE="Fightingfan"]I don't understand why we can't just allow individuals to maintain, and monitor their own investments. I don't know the exact yields, but I doubt SS can offer better returns than NYSE, Gold, Bonds, or Treasury Bills.

What happens if I decide not to retire? I paid all that money for practically no personal gain? Sounds pretty awesome to me. 

worlock77

 - Did you know that you can actually do that?

 - Actually at a certain age you collect Social Security whether you're working or not.

1) It prevents me from growing my wealth because I'm forced to pay into a service I may not even use -- and I don't even have a gurantee that I can recieve it when it's time for me to.

2) You receive a gypped portion of your benefits -- but yes I'm aware.

Not this stupidity again. How dare we want to protect retired people with a little money from a program they funded? Damn socialists and there anti-poverty programs.TheWalkingGhost

Not this stupidity again. How dare we want to protect retired people with a little money from a program they funded? Damn socialists and there anti-poverty programs.TheWalkingGhost

If, you're under 50 right now...good luck!  One way or another you will end-up with squat from SS.

[QUOTE="TheWalkingGhost"]Not this stupidity again. How dare we want to protect retired people with a little money from a program they funded? Damn socialists and there anti-poverty programs.jeremiah06

[QUOTE="jeremiah06"][QUOTE="TheWalkingGhost"]Not this stupidity again. How dare we want to protect retired people with a little money from a program they funded? Damn socialists and there anti-poverty programs.Laihendi

Get the hell out you said you were done on this site.

[QUOTE="Laihendi"][QUOTE="jeremiah06"] How about we actually give them back what they themselves put into it? Then allow those who don't want anything to opt out of paying for it? I wont be taking advantage of ss so why do I still have to pay into it?Squeets

Get the hell out you said you were done on this site.

I've heard rumors that they will start having conditions for SS.  If your current assets are above a certain level, you wont qualify for the pay out.  Even if you paid in your entire life.

SS is p. safe.

medicare looks worrying, but that's really being driven by the increasing costs of health care - something that definitely needs resolved.

coolbeans90

[QUOTE="worlock77"]

[QUOTE="Fightingfan"]I don't understand why we can't just allow individuals to maintain, and monitor their own investments. I don't know the exact yields, but I doubt SS can offer better returns than NYSE, Gold, Bonds, or Treasury Bills.

What happens if I decide not to retire? I paid all that money for practically no personal gain? Sounds pretty awesome to me. 

Fightingfan

 - Did you know that you can actually do that?

 - Actually at a certain age you collect Social Security whether you're working or not.

1) It prevents me from growing my wealth because I'm forced to pay into a service I may not even use -- and I don't even have a gurantee that I can recieve it when it's time for me to.

2) You receive a gypped portion of your benefits -- but yes I'm aware.

Has Social Security prevented Warren Buffet from growing his wealth?

[QUOTE="Laihendi"][QUOTE="jeremiah06"] How about we actually give them back what they themselves put into it? Then allow those who don't want anything to opt out of paying for it? I wont be taking advantage of ss so why do I still have to pay into it?Squeets

Get the hell out you said you were done on this site.

Did you honestly believe that?

[QUOTE="Squeets"]

[QUOTE="Laihendi"] The democrats will never consider it because it contradicts their either-or fallacy. According to the democrats we either have to pay into social security or all the old people will become impoverished and die. The fact that they will not even give us the option of not participating in the program shows that it is not really about helping us. They know that if people were not forced by law to pay into it then the whole system would collapse.worlock77

Get the hell out you said you were done on this site.

Did you honestly believe that?

[QUOTE="worlock77"]

[QUOTE="Squeets"]

Get the hell out you said you were done on this site.

dave123321

Did you honestly believe that?

Like what? Nude shots of Elijah Wood?

[QUOTE="Fightingfan"]

[QUOTE="worlock77"]

 - Did you know that you can actually do that?

 - Actually at a certain age you collect Social Security whether you're working or not.

worlock77

1) It prevents me from growing my wealth because I'm forced to pay into a service I may not even use -- and I don't even have a gurantee that I can recieve it when it's time for me to.

2) You receive a gypped portion of your benefits -- but yes I'm aware.

Has Social Security prevented Warren Buffet from growing his wealth?

[QUOTE="worlock77"]

[QUOTE="Fightingfan"]

1) It prevents me from growing my wealth because I'm forced to pay into a service I may not even use -- and I don't even have a gurantee that I can recieve it when it's time for me to.

2) You receive a gypped portion of your benefits -- but yes I'm aware.

Fightingfan

Has Social Security prevented Warren Buffet from growing his wealth?

He wasn't always wealthy, so has Social Security prevented him from growing his wealth?

[QUOTE="Fightingfan"][QUOTE="worlock77"]

Has Social Security prevented Warren Buffet from growing his wealth?

worlock77

He wasn't always wealthy, so has Social Security prevented him from growing his wealth?

Warren is older than the SS and the Medicare systems.

Warren also comes from a family of wealth -- his father was a politician. Similar to JFK -- he would of never been poor or middle class, though I will admit his wealth wasn't handed to him, but to think he earned his wealth without intervention is silly.

His wealth would be higher granted he didn't have to pay into a system he'll never utilize. 15% of an average man's income is simply not comparable to one of the richest men in the world. 

*We're faring from the topic. So what are you saying? The Government knows how to use my money better than I do?

[QUOTE="worlock77"]

[QUOTE="Fightingfan"] a quarter percent(.25) of Warren's income annually(Assuming it's a billion dollars) is 2.5 million-- most people won't even see in their life time. It's not comparable. Fightingfan

He wasn't always wealthy, so has Social Security prevented him from growing his wealth?

Warren is older than the SS and the Medicare systems.

Warren also comes from a family of wealth -- his father was a politician. Similar to JFK -- he would of never been poor or middle class, though I will admit his wealth wasn't handed to him, but to think he earned his wealth without intervention is silly.

His wealth would be higher granted he didn't have to pay into a system he'll never utilize. 15% of an average man's income is simply not comparable to one of the richest men in the world. 

*We're faring from the topic. So what are you saying? The Government knows how to use my money better than I do?

Warren Buffett was born in 1930. Social Security came into place in 1935. So unless Buffett started working before the age of 5 he's spent his entire career working while paying into Social Security. Has it prevented him from growing his wealth?

[QUOTE="Fightingfan"]

[QUOTE="worlock77"]

He wasn't always wealthy, so has Social Security prevented him from growing his wealth?

worlock77

Warren is older than the SS and the Medicare systems.

Warren also comes from a family of wealth -- his father was a politician. Similar to JFK -- he would of never been poor or middle class, though I will admit his wealth wasn't handed to him, but to think he earned his wealth without intervention is silly.

His wealth would be higher granted he didn't have to pay into a system he'll never utilize. 15% of an average man's income is simply not comparable to one of the richest men in the world. 

*We're faring from the topic. So what are you saying? The Government knows how to use my money better than I do?

Warren Buffett was born in 1930. Social Security came into place in 1935. So unless Buffett started working before the age of 5 he's spent his entire career working while paying into Social Security. Has it prevented him from growing his wealth?

[QUOTE="worlock77"]

[QUOTE="Fightingfan"]

Warren is older than the SS and the Medicare systems.

Warren also comes from a family of wealth -- his father was a politician. Similar to JFK -- he would of never been poor or middle class, though I will admit his wealth wasn't handed to him, but to think he earned his wealth without intervention is silly.

His wealth would be higher granted he didn't have to pay into a system he'll never utilize. 15% of an average man's income is simply not comparable to one of the richest men in the world. 

*We're faring from the topic. So what are you saying? The Government knows how to use my money better than I do?

Fightingfan

Warren Buffett was born in 1930. Social Security came into place in 1935. So unless Buffett started working before the age of 5 he's spent his entire career working while paying into Social Security. Has it prevented him from growing his wealth?

Poor Warren. Only $46,000,000,000 to his name.

[QUOTE="dave123321"][QUOTE="worlock77"]

Did you honestly believe that?

worlock77

Like what? Nude shots of Elijah Wood?

Just wait for Obamacare.Murderstyle75

[QUOTE="dave123321"]Put it in the hands of the people and not the government. I like it.dave123321

[QUOTE="dave123321"][QUOTE="dave123321"]Put it in the hands of the people and not the government. I like it.Serraph105

[QUOTE="Murderstyle75"]Just wait for Obamacare.DroidPhysX

[QUOTE="Squeets"]

[QUOTE="Laihendi"] The democrats will never consider it because it contradicts their either-or fallacy. According to the democrats we either have to pay into social security or all the old people will become impoverished and die. The fact that they will not even give us the option of not participating in the program shows that it is not really about helping us. They know that if people were not forced by law to pay into it then the whole system would collapse.Laihendi

Get the hell out you said you were done on this site.

:D Yeah!  I can finally enjoy the helpless confusion caused by your posting again haha!  I don't get why people are so bothered by you, it's great.

Can you trust the private sector with your money? Big banks are to big to fail and to big to jail. they could piss away all your money!

Can you trust the private sector with your money? Big banks are to big to fail and to big to jail. they could piss away all your money!

osirisx3