Republicans move to privatize Social Security

[C_Clayton_Jones]

Be in a position where your not expecting to rely on $1,400/month to live on.

And for those who can’t, for whatever reason? Indeed, there are a significant number of families that live from paycheck to paycheck and have little or nothing left to save; still more whose savings are modest will rely on SS in conjunction with savings.

Now, you can drone on about conservative dogma, how everyone should prepare for retirement and those who fail to do so should suffer the consequences, but however much we may dislike it or disapprove, the working poor will forever be a static reality.

Remember: the working poor are a vital component of the free market system; low wages ensure maximum profits and satisfied stockholders. SS is fair compensation for the wealth the working poor create.

 

[Susan45]

I know of an elderly couple that lost over a million dollars via Enron, which was everything they had. They are now living entirely off Social Security.

Isn't that sad? I didn't lose anywhere near that so it didn't mean a lifestyle change for me, but I bet it did for those folks. That is why I try and educate anyone that might be the slightest bit educational. We must make sure we can keep those greedy paws off of the program.

 

[Susan45]

The Republicans can't wait for their buddies on Wall Street to get their hands on all that delicious retirement money.

They did so well with their derivatives Ponzi scheme.

And how well has DC done handling that money? hmmmm? What kind of return we getting?

Whatever DC has done with the money it shouldn't impact SS at all. As long as we are still able to collect the interest on the bonds we'll (SS) stay in good shape.

 

[Chris]

The Republicans can't wait for their buddies on Wall Street to get their hands on all that delicious retirement money.

They did so well with their derivatives Ponzi scheme.

And how well has DC done handling that money? hmmmm? What kind of return we getting?

They have done GREAT!

They haven't missed a check in 70 years!!!

 

[Chris]

Be in a position where your not expecting to rely on $1,400/month to live on.

And for those who can’t, for whatever reason? Indeed, there are a significant number of families that live from paycheck to paycheck and have little or nothing left to save; still more whose savings are modest will rely on SS in conjunction with savings.

Now, you can drone on about conservative dogma, how everyone should prepare for retirement and those who fail to do so should suffer the consequences, but however much we may dislike it or disapprove, the working poor will forever be a static reality.

Remember: the working poor are a vital component of the free market system; low wages ensure maximum profits and satisfied stockholders. SS is fair compensation for the wealth the working poor create.

Amen, brother.

 

[Susan45]

Be in a position where your not expecting to rely on $1,400/month to live on.

And for those who can’t, for whatever reason? Indeed, there are a significant number of families that live from paycheck to paycheck and have little or nothing left to save; still more whose savings are modest will rely on SS in conjunction with savings.

Now, you can drone on about conservative dogma, how everyone should prepare for retirement and those who fail to do so should suffer the consequences, but however much we may dislike it or disapprove, the working poor will forever be a static reality.

Remember: the working poor are a vital component of the free market system; low wages ensure maximum profits and satisfied stockholders. SS is fair compensation for the wealth the working poor create.

And over and above all this, every family is only one serious illness away from bankruptcy. Maybe the healthcare bill will help, but until it actually does help, one serious illness is all it takes. And I speak from experience.

 

[Polk]

I might support the idea, but I would WAY more information about the plan first.

1) Where is the money invested

2) How is the money invested (conservative or risky)

3) Can I change how or where the money is invested

4) Can I freely monitor my investment

The list of questions goes on and on. But, if done the right way, I support it.

And when your investments go south when you are 80 years old, what will you do then?

Alpo or Fancy Feast?

 

[Susan45]

The Republicans can't wait for their buddies on Wall Street to get their hands on all that delicious retirement money.

They did so well with their derivatives Ponzi scheme.

And how well has DC done handling that money? hmmmm? What kind of return we getting?

They have done GREAT!

They haven't missed a check in 70 years!!!

Since 1936!

 

[Polk]

Be in a position where your not expecting to rely on $1,400/month to live on.

And for those who can’t, for whatever reason? Indeed, there are a significant number of families that live from paycheck to paycheck and have little or nothing left to save; still more whose savings are modest will rely on SS in conjunction with savings.

Now, you can drone on about conservative dogma, how everyone should prepare for retirement and those who fail to do so should suffer the consequences, but however much we may dislike it or disapprove, the working poor will forever be a static reality.

Remember: the working poor are a vital component of the free market system; low wages ensure maximum profits and satisfied stockholders. SS is fair compensation for the wealth the working poor create.

Almost half of Americans make less than 25k a year. I'd really like to hear how they'll be able to save hundreds of thousands of dollars.

 

[Susan45]

I might support the idea, but I would WAY more information about the plan first.

1) Where is the money invested

2) How is the money invested (conservative or risky)

3) Can I change how or where the money is invested

4) Can I freely monitor my investment

The list of questions goes on and on. But, if done the right way, I support it.

And when your investments go south when you are 80 years old, what will you do then?

Alpo or Fancy Feast?

 

[Toronado3800]

Social security is not there to make you rich. Go work your tail off if you want that.

Social security is like insurance. Every investment you make go south? You will not be 70 and destitute.

The long term math is not that bad either. Couple tweaks and there might be no need to scale back payouts.

There are winners and losers in it for sure. I think it is a fair trade for not seeing the sick and elderly in the street begging for scraps.

 

[rdean]

I love reading these ignorant right wing posts. Their leaders never talk about "investment". They have no concept of "supply and demand". They go on about "capitalism" but don't know what it is, except it's not "socialism".

Then when they do talk about "investing" in Wall Street, they assume they will "make money". Hilarious.

They don't understand these Wall Street guys make their living taking other people's money. Wall Street doesn't make anything. They simply move money around. And Republicans? Can you imagine? These people don't believe science or education but they are going to "outwit" Wall Street and "make a profit"? Hilarious.

Well, at least they gave me one more good belly laugh before I go to bed. Really hilarious.

 

[C_Clayton_Jones]

I think it is a fair trade for not seeing the sick and elderly in the street begging for scraps.

And that was indeed its only original intent.

 

[Wacky Quacky]

I might support the idea, but I would WAY more information about the plan first.

1) Where is the money invested

2) How is the money invested (conservative or risky)

3) Can I change how or where the money is invested

4) Can I freely monitor my investment

The list of questions goes on and on. But, if done the right way, I support it.

And when your investments go south when you are 80 years old, what will you do then?

Alpo or Fancy Feast?

That wouldn't be the case if you could pull your investments, or switch them to a safer more conservative option.

 

[code1211]

The Republicans can't wait for their buddies on Wall Street to get their hands on all that delicious retirement money.

They did so well with their derivatives Ponzi scheme.

Why does your suspiscion of the government handling the monies from Social Security, something the are currently mishandling, not extend to the potential mishandling of the Healthcare Insurance dollars that they covet so strongly?

It ssems pretty well proven to me that any dollar that has passsed through the hands of the elected liars and cheats was likely to be stolen in whole or in part and yet you seem feel that this is not true when discussing sending future dollars to them even though the past dollars sent all prove this point.

Are we to believe that the politicians have been reformed?

Please produce the evidence of this and explain how this is supported by the additional 4 TRILLION dollars of debt racked up over the last two years.

 

[code1211]

They did so well with their derivatives Ponzi scheme.

What do you think Social Security is, candy ass?

70 years of success.

Sounds like the housing market run up to 2008.

 

[code1211]

I might support the idea, but I would WAY more information about the plan first.

1) Where is the money invested

2) How is the money invested (conservative or risky)

3) Can I change how or where the money is invested

4) Can I freely monitor my investment

The list of questions goes on and on. But, if done the right way, I support it.

And when your investments go south when you are 80 years old, what will you do then?

A workable SS system would need to have a combination of an annuity like set which is what we have and an investment which is what is referred to a Privatization.

The investment system should be based like the one where I work. There are various plans all named by the year you hope to retire. If you are invested in the 2060 plan, the investments are higher risk/reward right now. If you are in the 2015, the investments are very low risk/reward. As years pass, the 2060 will look more and more like the 2015.

All of the plans are somewhat diversified. It's simple and self adjusting. This would have the advantage of developing a cash value and delivering to the less advataged a bequest for ther offspring should they die before they retire or before the cash is used.

I was forced into a deduction from payroll at the age of 23 and have been doing so ever since. At that time, it was 2% to go to a "Profit Sharing" account. If that % had been 14%, my retirement right now would be in the millions. Compound interest is the most powerful force in the Universe.

Regardless of any other consideration, making no changes guarentees that the current system will fail and nobody will have anything. This would be a bad thing and is apparently the plan that the Democrats in the Congress endorse.

 

[uscitizen]

And when your investments go south when you are 80 years old, what will you do then?

Alpo or Fancy Feast?

That wouldn't be the case if you could pull your investments, or switch them to a safer more conservative option.

You mean like govt bonds?

 

[Harry Dresden]

And when your investments go south when you are 80 years old, what will you do then?

and if they dont?.....instead of having 1200 dollars a month someone might have 2000-3000 a month.....why is 1200 a month so comforting to you Chris?......most people can probably invest that money and get more back ......why not let them decide?......if you dont want to do it,you stay in the System.....

I'll bet there are a lot of people that had investments in the last decade are delighted they have their SS now. We've just seen what happened to the market. I completely lost my investment and it's nice to know that on the 3rd my SS check will be there.

And like any insurance program the more that pay in the better it is for the program. It certainly doesn't stop anyone from investing.

thats the gamble you take aint it?....

 

[Harry Dresden]

I love reading these ignorant right wing posts. Their leaders never talk about "investment". They have no concept of "supply and demand". They go on about "capitalism" but don't know what it is, except it's not "socialism".

Then when they do talk about "investing" in Wall Street, they assume they will "make money". Hilarious.

They don't understand these Wall Street guys make their living taking other people's money. Wall Street doesn't make anything. They simply move money around. And Republicans? Can you imagine? These people don't believe science or education but they are going to "outwit" Wall Street and "make a profit"? Hilarious.

Well, at least they gave me one more good belly laugh before I go to bed. Really hilarious.

so Wall Street is the only place to invest?....