xband
Gold Member
- Jan 5, 2016
- 6,200
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Why not remove the cap and let people have a choice of three options:
1. Letting it stay in the same program management scheme it is in. No change for that person at all.
2. Allowing people to manage their SS funds like a 401k. the money is invested by people at the Social Security Administration who would hire the best portfolio managers and hedge fund managers to do so. Downside to this, of course, is that Congress cant keep borrowing from these funds, but I think Congress should ween itself off of Social Security funds any way.
3. A hybrid option of taking some Social Security funds out an managing them like a 401k and also leaving however much they want to in the system.
This is a radical idea and one which makes me wonder about how deeply opponent of Social Security have thought through their proposals. Allowing the federal government to play the stock market would, of course, expose beneficiaries to the sort of risks the program was intended to avoid. Even more strange is the fact that having such a multi-billion dollar player in the market every day would result in situation in which the federal government swiftly became the major stock holder in a very large number of publicly held corporations. Such a a development would take the USA far, far beyond the democratic socialism advocated by Sen. Sanders and practiced in Scandinavian countries. We would have an economy structured like North Korea's. Good thinking, guys![/QUOTE]
I made a bundle in the stock market but do not want my SS retirement tied up in the stock market. The stock market is prone to violent swings both up and down and risky is nom de plume.