Disir
Platinum Member
- Sep 30, 2011
- 28,003
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Right. I mean we just watched people lose everything with the last one, eh?
Oh, wait......that must have been personal responsibility.
You knew people who lost everything in their IRAs in 2008?
Yep. IRAs and 401(k)s. Then there were several articles that were kicked out stating you can't depend on that for retirement-after the fact. Which is rich coming after the fact they played the same line of shit trying to make the shift. And then people that were in their fifties and sixties were losing their jobs and were not being hired anywhere. They were too young to access Social Security and considered too old to be hired. There's always excuses/justifications for the reasons they can steal your shit.
If individuals had the 15% plus that is taxed away from them the combined employer and employee SS and Medicare burden, the compounded returns on that 15% over a life time would be Quite Substantial. In addition, the investment account could be inherited by one's loved ones. With SS, if a spouse dies, the remaining one gets the only higher of the two payments the couple received. IOW, one lifetime of benefit contributions are taken away and by the government.
Until it wasn't.
I guarantee you will see the same game as the PPA of 2006.
I have no idea what point you are trying to make.
Your employer will decide the investments. It's all shit sold under individual choice.
SS is a safety net.