Jeb Bush: Next president should privatize Social Security

[NYcarbineer]

Hey Sheep do some math.

Take 15% of your lifetime income and do a calculation of how much you would have if you got a 7% return on that over your life time then tell me that SS is a better deal

The current payroll tax is 6.2%. Not 15%. You can put the other 8.8% wherever you want.

 

[PratchettFan]

Jesus christ, what is wrong with this nut?

"
WASHINGTON – Jeb Bush thinks the next president will need to privatize Social Security, he said at a town hall meeting in New Hampshire on Tuesday – acknowledging that his brother attempted to do so and failed. It’s a position sure to be attacked by both Republicans and Democrats.

Bush has previously said he would support raising the retirement age to get Social Security benefits, a common position among Republicans. And he backed a partial privatization that House Republicans have proposed that would allow people to choose private accounts.

The future of Social Security has become one of the most hotly contested issues in national politics, and both parties have accused the other of threatening its survival. Republicans argue that Democrats’ refusal to change the program will lead to its bankruptcy. Democrats sayprivatization would kill the program and leave elderly Americans at the mercy of the stock market. Plus, any discussion of changing the system often creates fear in older Americans beyond or nearing the age of retirement, who also tend to vote in the greatest numbers.

Republicans have split on the answer to fix the program, which could begin to pay out more than it takes in as more baby boomers retire and younger generations aren’t able to pay enough into the system to keep it going. Understanding the fear privatization proposals create, some Republicans have argued that the retirement age should be increased or means-testing established instead. Many Democrats advocate raising the ceiling for the tax that funds it.
"

Jeb Bush Next president should privatize Social Security
The one good thing is, he will never get elected now..

The president can't do that, no matter who he is. Only Congress can. All the president can do is sign, veto or let it pass unsigned.

 

[PratchettFan]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

 

[JakeStarkey]

SS privatization is much like those who want to avoid ACA by carrying catastrophic insurance.

Both want to privatize the profit but socialize their risk financially in case of old age or serious illness.

No.

 

[PratchettFan]

It should be privatized and people be able to invest their money in a limited fashion. SS does not even give someone enough to live on let alone create real wealth for the one that is paying for it. There are many benefits a privatized system would have not the least of which is the possibility of passing that asset down to your children should you not utilize all of it.

It isn't intended to create wealth or provide something to pass onto one's children. It is intended to allow you to live when you can no longer work. It is intended to keep a roof over your head and food in your belly and that is it. If you want more, then you need to prepare for retirement. SS doesn't remove responsibility to plan for your future, it just creates a safety net so you don't end up in living in a cardboard box eating out of garbage cans.

 

[Seawytch]

It should be privatized and people be able to invest their money in a limited fashion. SS does not even give someone enough to live on let alone create real wealth for the one that is paying for it. There are many benefits a privatized system would have not the least of which is the possibility of passing that asset down to your children should you not utilize all of it.

It isn't intended to create wealth or provide something to pass onto one's children. It is intended to allow you to live when you can no longer work. It is intended to keep a roof over your head and food in your belly and that is it. If you want more, then you need to prepare for retirement. SS doesn't remove responsibility to plan for your future, it just creates a safety net so you don't end up in living in a cardboard box eating out of garbage cans.

Bingo!!!! That. Right. There.

 

[HereWeGoAgain]

I guess if you're stupid or gullible thats sound advice.

So, your moronic "solution" is that when retired folks in their nineties, STILL need to look at the stock market every morning to see if there's enough to eat with on that day?

If they got it right in the first time they wouldnt have to worry about it.

 

[HereWeGoAgain]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

With what? I thought the government took all of your money?

If obammy had his way the capital gains tax would be 100%.

 

[HereWeGoAgain]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

That should be where the safety net kicks in.
And you obviously have to have limits on what you can invest in based on your age and ability to take care of yourself if you fail.
There are plenty of safe options out there that if taken advantage of early will provide a nice nest egg with very little risk.

 

[BluesLegend]

Imagine everyone's surprise when they discover government spent all the freaking SS money.

There's nothing surprising about it at all, SS is paygo and has been since inception.

Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

Congress sells its IOUs all the time. If I'm not mistaken, its every Tuesday. Holy Lord you can't seriously be this stupid.

You don't know what the hell you are talking about

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

The Social Security Trust Fund is invested in US treasuries, the safest investment in the world.

Do you deny that congress borrowed and blew $2 trillion dollars of OUR money from the trust fund and have no way of paying it back?

 

[BluesLegend]

Imagine everyone's surprise when they discover government spent all the freaking SS money.

There's nothing surprising about it at all, SS is paygo and has been since inception.

Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

Congress sells its IOUs all the time. If I'm not mistaken, its every Tuesday. Holy Lord you can't seriously be this stupid.

You don't know what the hell you are talking about

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

When you buy a savings bond for your kid, you get an IOU from the government. When you put cash in a money market account, in most cases you're getting an IOU from the government. When you invest in municipal bonds, you get IOU's from the government.

Okay, all you liberal bunch of dumb asses go ahead tell us how the government is going to pay back the $2 trillion dollars of OUR money they borrowed and spent from the SS trust fund?

 

[Political Junky]

Jesus christ, what is wrong with this nut?

"
WASHINGTON – Jeb Bush thinks the next president will need to privatize Social Security, he said at a town hall meeting in New Hampshire on Tuesday – acknowledging that his brother attempted to do so and failed. It’s a position sure to be attacked by both Republicans and Democrats.

Bush has previously said he would support raising the retirement age to get Social Security benefits, a common position among Republicans. And he backed a partial privatization that House Republicans have proposed that would allow people to choose private accounts.

The future of Social Security has become one of the most hotly contested issues in national politics, and both parties have accused the other of threatening its survival. Republicans argue that Democrats’ refusal to change the program will lead to its bankruptcy. Democrats sayprivatization would kill the program and leave elderly Americans at the mercy of the stock market. Plus, any discussion of changing the system often creates fear in older Americans beyond or nearing the age of retirement, who also tend to vote in the greatest numbers.

Republicans have split on the answer to fix the program, which could begin to pay out more than it takes in as more baby boomers retire and younger generations aren’t able to pay enough into the system to keep it going. Understanding the fear privatization proposals create, some Republicans have argued that the retirement age should be increased or means-testing established instead. Many Democrats advocate raising the ceiling for the tax that funds it.
"

Jeb Bush Next president should privatize Social Security
The one good thing is, he will never get elected now..

This is a direct play to Big Money. Give them the money to gamble with on Wall Street and take their percentage off the top.

 

[blastoff]

I guess if you're stupid or gullible thats sound advice.

So, your moronic "solution" is that when retired folks in their nineties, STILL need to look at the stock market every morning to see if there's enough to eat with on that day?

Wow stop talking you are just illustrating your ignorance.

Why don't you look up investment strategies for retirement you'll find that the closer one is to retirement the less of their money should be invested in equities

First these idiots will have to look up the definition of equities.

 

[NYcarbineer]

Imagine everyone's surprise when they discover government spent all the freaking SS money.

There's nothing surprising about it at all, SS is paygo and has been since inception.

Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

Congress sells its IOUs all the time. If I'm not mistaken, its every Tuesday. Holy Lord you can't seriously be this stupid.

You don't know what the hell you are talking about

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

The Social Security Trust Fund is invested in US treasuries, the safest investment in the world.

Do you deny that congress borrowed and blew $2 trillion dollars of OUR money from the trust fund and have no way of paying it back?

Do you have any idea how fixed income investments operate?

You are wrong. The US government can pay the 2 trillion back, since they don't have to lol.

 

[PratchettFan]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

That should be where the safety net kicks in.
And you obviously have to have limits on what you can invest in based on your age and ability to take care of yourself if you fail.
There are plenty of safe options out there that if taken advantage of early will provide a nice nest egg with very little risk.

So, if I understand you, you are saying that I should pay into social security but only be allowed to access it if I am desperate?

 

[NYcarbineer]

Imagine everyone's surprise when they discover government spent all the freaking SS money.

There's nothing surprising about it at all, SS is paygo and has been since inception.

Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

Congress sells its IOUs all the time. If I'm not mistaken, its every Tuesday. Holy Lord you can't seriously be this stupid.

You don't know what the hell you are talking about

Imagine everyone's surprise when they discover government spent all the freaking SS money. Is it possible to privatize $2 trillion dollars of IOU's from congress? I don't think so.

When you buy a savings bond for your kid, you get an IOU from the government. When you put cash in a money market account, in most cases you're getting an IOU from the government. When you invest in municipal bonds, you get IOU's from the government.

Okay, all you liberal bunch of dumb asses go ahead tell us how the government is going to pay back the $2 trillion dollars of OUR money they borrowed and spent from the SS trust fund?

Why would they have to pay it all back at once?

 

[rightwinger]

Social Security depends on those who are working to support those who are retired

How do we privatize Social Security without cutting off benefits to those already retired?

 

[HereWeGoAgain]

if those getting ready to collect SS had put that money AWAY for themselves.

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

That should be where the safety net kicks in.
And you obviously have to have limits on what you can invest in based on your age and ability to take care of yourself if you fail.
There are plenty of safe options out there that if taken advantage of early will provide a nice nest egg with very little risk.

So, if I understand you, you are saying that I should pay into social security but only be allowed to access it if I am desperate?

No,you should be able to use a portion of your money to invest leaving some as a safety net.

 

[PratchettFan]

IDIOT.......Put that money away WHERE????

Under their mattresses?
On a bank CD yielding .05%?
Gamble it on the stock market?

At least give me the option.
I've done well "gambling"on the market.

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

That should be where the safety net kicks in.
And you obviously have to have limits on what you can invest in based on your age and ability to take care of yourself if you fail.
There are plenty of safe options out there that if taken advantage of early will provide a nice nest egg with very little risk.

So, if I understand you, you are saying that I should pay into social security but only be allowed to access it if I am desperate?

No,you should be able to use a portion of your money to invest leaving some as a safety net.

That is what we currently have.

 

[HereWeGoAgain]

At least give me the option.
I've done well "gambling"on the market.

And the people who don't do well? Do we kick them into the streets and let them starve when they get too old to work?

That should be where the safety net kicks in.
And you obviously have to have limits on what you can invest in based on your age and ability to take care of yourself if you fail.
There are plenty of safe options out there that if taken advantage of early will provide a nice nest egg with very little risk.

So, if I understand you, you are saying that I should pay into social security but only be allowed to access it if I am desperate?

No,you should be able to use a portion of your money to invest leaving some as a safety net.

That is what we currently have.

No it's not.