Republicans should propose to phase out SS and replace it with this proven plan.

Fund my SS retirement fully and you are more than welcome to your hare-brained scheme.
How stupid are you? If you were able to do in the early 70s what 4 counties in Texas did you would be getting 2-3 times as much per month, have hundreds of thousands to leave behind, and have a death benefit over 800 times that of SS.

And being the moron you are, you call that “hare brained” :cuckoo:
 
How stupid are you? If you were able to do in the early 70s what 4 counties in Texas did you would be getting 2-3 times as much per month, have hundreds of thousands to leave behind, and have a death benefit over 800 times that of SS.

And being the moron you are, you call that “hare brained” :cuckoo:
The 1970s, I was a teenager. A lot has changed since then. I am now on SS.
 
The 1970s, I was a teenager. A lot has changed since then. I am now on SS.
Yep, and if you worked under the plan in the OP you would be getting 2-3 times more every month, and be able to leave hundreds of thousands of dollars to others when you die.

But keep trying to sell me on why SS is better, Simp.
 
Yep, and if you worked under the plan in the OP you would be getting 2-3 times more every month, and be able to leave hundreds of thousands of dollars to others when you die.

But keep trying to sell me on why SS is better, Simp.
Call me Simp one more time and I will find you and cut you! :abgg2q.jpg:

I never said it was better. How well does your fucking time machine work going back to the 70s?
 
The issue with the GOP plan to privatize SS is that it usually doesn't include safegaurds and regulations to prevent private banks from ripping of retirees.
 
How will you fund my SS? Why do you refuse to answer? That's the hare-brained part you stupid jerk!
Nowhere in the OP did I, or my link,, say anything about your SS, Simp.

Im still waiting for you to explain in detail why the plan in the OP is “hare brained”.
Just admit you can’t and move in, Dumbass.
 
The issue with the GOP plan to privatize SS is that it usually doesn't include safegaurds and regulations to prevent private banks from ripping of retirees.
You didn’t read the OP, did you?
 
How will you fund my SS? Why do you refuse to answer? That's the hare-brained part you stupid jerk!
I put forth my idea earlier in the thread how we would transition from the SS Ponzi scheme to this much better system.

I suggest you read the thread, starting with the OP, Simp.
 
KEEP YOUR RIGHT WING HANDS OFF MY SOCIAL SECURITY
Another Simp who would rather live off 1/2 or less than they would have under the plan in the OP, and hates the idea he could leave hundreds of thousands to others.

Moron.
 
4 counties in TX opted out of SS before Congress outlawed it. They set up their own system and the results speak for themselves.

Who here would choose SS over this plan?

But the Alternate Plan takes a different approach, one I call a “banking model.” Employee and employer contributions are actively managed by a financial planner—in this case, First Financial Benefits, Inc., of Houston, which both originated the plan and has managed it since inception.

The contributions are pooled, like bank deposits, and top-rated financial institutions bid on the money. Those institutions guarantee an interest rate that won’t go below a base level, and could go higher if the market does well. Over the last decade, the accounts have earned between 3.75 percent and 5.75 percent every year, with an average of around 5 percent. The 1990s often saw even higher interest rates, 6.5 to 7 percent. Thus, when the market goes up, employees make more; and when the market goes down, employees still make something.

Like Social Security, employees contribute 6.2 percent of their income, with the county matching the contribution (Galveston has chosen to provide a slightly larger share). Once the county makes its contribution, its financial obligation is done. So there are no long-term unfunded liabilities.

But not all of that money goes into an employee’s retirement account. When financial planner Rick Gornto devised the Alternate Plan in 1981, he wanted it to be a complete substitute for Social Security. And Social Security isn’t just a retirement fund; it’s social insurance that provides a death benefit—a whopping $255—survivors’ insurance, and a disability benefit.

Part of the employer contribution in the Alternate Plan goes toward a term life insurance policy, which pays four times the employee’s salary tax free, up to a maximum of $215,000. That’s nearly 850 times Social Security’s death benefit.

More importantly, if a worker participating in Social Security dies before retirement, he loses his contribution (though part of that money might go to surviving children, if any, or a spouse who didn’t work and therefore didn’t establish his or her own benefits). But a worker in the Alternate Plan owns his account, so the entire account belongs to the estate. There is also, among other benefits, a disability benefit that pays immediately upon injury, rather than waiting six months, plus other restrictions, as under Social Security.

And those who retire under the Galveston model do much better than Social Security. For example:


  • A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financial’s calculations.
  • A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
  • And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.
What the Alternate Plan has demonstrated over 30 years is that personal retirement accounts work, with many retirees making more than twice what they would have made under Social Security. And that model could work for the roughly 25 percent of public employees—about 6 million people—who are part of state and local government retirement plans. It could also serve as a model for reforming Social Security.

/——/ I read about it years ago. Sadly, Congress said FU*K YOU AMERICA. Seven-figure ad campaign exposes billions in Biden's Medicare cuts after accusations GOP wants to slash
 

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