Social Security: Needs to strengthened not dismantled

Discussion in 'Politics' started by RDD_1210, Feb 14, 2011.

  1. RDD_1210
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    RDD_1210 Forms his own opinions

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  2. cutter
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    cutter Silver Member

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    All it takes is money. Everybody wants more as long as someone else pays for it.
     
  3. Immanuel
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    Immanuel Gold Member

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    Decent article, but I disagree with him in regards to the privatization issue. It is my opinion that even the financially illiterate individual would be better served if the funds were put into an account with his/her name on it and if he just happens to die three days before reaching whatever magical age the government has set for his generation, those funds would be directed to his family and not swallowed up by politicians.

    Those more financially literate would be much better off if they could do so as well as be more aggressive in the investment of those funds.

    Safe! Yes, U.S. Treasury Bonds are safe. No! The U.S. has not defaulted on any obligations. Does that mean that we can continue to go on spending like we are now? No, not in my opinion. Quite frankly, I think the U.S. is in trouble and I personally am concerned about our ability to pay those obligations. That does not mean I predict an imminent collapse in our future or that the U.S. will default, but I do not believe that Treasury Bonds are necessarily the best investment (when defined as providing the highest amount of return for the least amount of risk) out there.

    I turn 50 in three months. That means my retirement will be just a few short years before the cuts supposedly have to begin. Lucky me! But the real problem is this... I am over weight and not exactly in the best of health. So, I have been taxed for thirty years now and let's say I just happen to be one of those unlucky people that do not make it to whatever age I can begin collecting SS. Guess what... my wife and family get a whopping $255 and I don't even get a thank you for my contributions!

    That is why I believe it should be privatized. Hell, even if they force you to place it in Treasury Bonds, which I still believe is wrong, it would be better than leaving my wife and three children with a whopping $255.

    Good article, but I happen to disagree with Bernie Sanders.

    That being said, I for one agree we need to strengthen SS not eliminate it. Where he and I differ is in the definition of strengthen.

    Immie
     
    Last edited: Feb 14, 2011
  4. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Right now, you have the best of both worlds available to you. You can invest your money tax free and if your employer has a 401K, you will get matching funds
    You should also be well on your way of paying off your home by now.
    With Social Security, investments and your own home ....you should have a solid retirement
     
  5. Immanuel
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    Immanuel Gold Member

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    Guess what... I lost my job just over a year ago. The 401k funds and IRAs are dwindling fast. The home won't be paid off until I am 70.

    But, none of that matters... the issue is that if I die before I reach the magic year, my family gets screwed. That is just plain obscene.

    Immie
     
  6. Immanuel
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    Immanuel Gold Member

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    Let me just say this though.

    Under no circumstances do I believe that we can simply decide to privatize SS and jump into that over night. We have obligations to the surviving retirees and those who have paid into the system over the last 75 years or so that I do not believe should ever be ignored.

    If we were going to privatize SS, I believe it should be done gradually weaning us off the old system and into a better system. And we could never do so fully as we need to provide for those individuals who become disabled and cannot work.

    Immie
     
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  7. uscitizen
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    uscitizen Senior Member

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    But if they do not dismantle it we will have to pay back the 2+ trillion of surplus we have spent. And pay it back out of general funds.

    :D
     
  8. uscitizen
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    uscitizen Senior Member

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    Yep contracts must be honored.
    And debts must be paid.
     
  9. RDD_1210
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    RDD_1210 Forms his own opinions

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    My problem with privatizing it completely is that if we have the severe market melt down like we just did, people can lose most if not all of their safety net.
     
  10. uscitizen
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    uscitizen Senior Member

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    Privatizing in the market is also corporation in essence taxing the public.
     

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