What I said in another reply:
Privatize the accounts, and the employee owns his own retirement fund. It becomes part of his estate when he dies.
Ah… I understand what you are saying.
My objection to that is that the interest rates on government debt has been super super low for like decades now and forcing the taxpayer to individually buy up that discounted Federal debt… I don’t think that that would fly.
The cap is like $140,000. The proposal is to raise it to $400,000.
This idea that we can’t dare extend taxes to the rich or else they will retaliate gets really old.
Noticed you dodged the question. Do the rich generally get what they want legislatively in America, yes or no?
They do… because they have convinced a ton of people to vote for the interests of the rich.
It’s pretty crazy
Not to mention that’s a hefty chunk of money that would end up with a lot of people losing their homes, having to downsize or go bankrupt. Most Americans spend and are obligated through various debt to spend everything they make. They aren’t sitting on piles of extra cash to shell out that kind of money on sudden tax hikes of that magnitude.
So you agree, might just be a good way to end social security for good.
I want to see the government totally out of the retirement business. Let each worker own his own retirement account.
What I am suggesting won’t happen overnight. Current retirees stay as they are. Collect SS until they die. Maybe current workers also stay with SS payments when they retire – proportional to the number of years they paid into the System until the change to privatized accounts goes into effect.
At some point all workers eventually will be on solely privatized accounts. Once the fedgov pays the last SS payment, it will be out of the retirement business.
It will take decades. Maybe 100 years. I really don’t know. But as long as the government is running retirement payments, we’ll have a perpetual bankruptcy crisis. So start now to end government involvement in retirement payments.
Pretty simple, mandate 401k, mandate employee matching while you are at it. Restrict the level of risk that can be taken, designate lower risk index funds for example.
Don’t let it pass you by that the snot nosed libs will always make it a point to get in front of everyone and exclaim how people should never be trusted with their own money. 
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If some giant revamp of SS is going to happen, part of it could be specifying a guaranteed minimum interest rate on the bonds being held in privatized accounts. Government can set that rate. It’s the government after all.
If the GOP wants to lose power for over a generation they should end Social Security.
Not if they replaced it with something that paid more.
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Well… true… but then the program isn’t really self funding. I am not sure if this makes the program any more solvent.
I get the idea of owning the portion of Social Security and I am actually receptive to it.
To do that though I think that we would have to pay a lot more tax dollars into the program and I am not sure if there is the stomach for it.
Privatize it?
Yeah… . that would be a disaster.
Looks at his 401k balance smiles Looks at his SS payout laughs
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Is this where we pretend that something like the 2007-8 collapse won’t happen again? Especially since nothing really changed?
You don’t know investment strategy, if someone was hurt by that, they messed up. Didn’t hurt me in the slightest.
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And that is the rub isn’t it.
Everyone has to be expert in investment strategy or it is their own fault when Wall Street burns down the world.
But then… no one would ever lose any money in the stock market like ever.
Seems reasonable.
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