Should Social Security be privatized?

Posted: Fri Sep 10, 2004 9:03 am

Let us know how you voted and what you think!

Involved Joined: Jul 15, 2004 Posts: 252 Location: OKC, OK

Lets face it, the vast majority of people even so called pros havn't a clue about safe investing. If it was privatized you would have so many people without a penny it wouldn't be funny.

I do think more forms of tax free investing should be offered, I would like to see a roth type IRA that is capped not by a dollor ammount but as a % of gross income.

Client Joined: Apr 10, 2004 Posts: 649 Location: UK

I don't have any knowledge of how your Social Security works, but over here I think it would be disastrous to privatise it.

I'd liketot see our SS changed tho, there's far too much money wasted with so many different claim sections.

If they did away (here) with child benefit, they could afford to up the old age pension considerably so the elderly can live comfortably instead of on the breadline, and make our National Health Service more productive.

Posted: Mon Sep 13, 2004 9:22 am

Personally I think they take it away from government then it will end up like an HMO. If they want SSI to be successful they need to stop pulling money out of it that's not for SSI purposes.

Posted: Mon Sep 13, 2004 4:15 pm

No - I don't want my SSI to end up like my HMO!

I believe there is room for privatization to work but... I'm not real far from saying scrub the whole deal. Remembering the banking scandals of the 80's and more recently privately held corporations. I'd hate to see Social Security benefits get ripped off by the private sector besides just the Feds. Frankly paying in and all but knowing I'll never see dollar one back forces me to consider the entire system nothing more then a broken scam. A tax by another name but all the same a tax. Not at all what it was intended to be.

Posted: Mon Sep 13, 2004 5:24 pm

Makes me think that people that have their own retirement should not have to pay into SSI Smile

I'd rather screw myself then to have Big Brother do it!