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what are your views on the presidents plan to privatize soc sec and inverst some of the money into private accounts

It's not the best of ideas...'cuz what if God forbid the bottom falls out of whatever stock the money is invested in what are people to do then?

Horrible idea. Better Idea is to prevent the dipping that has been going on. If there truly is a crisis the worst thing you can do is give it to people to invest themselves because what then happens if the bottopm falls out as mentioned earlier. At this point and time, people can be trusted or do not have enough knowledge to manage their money on their own. And wouldn't that make matters worse as well because you would be stopping contributions into the fund further dpleating the already limited resources.

it doesnt matter what they do with the money. From what i understand, you would be lucky if you get more than $200/month from social security. they might as well keep that sh!t!

I think its a bunch of shit, Bush just wanted to leave a legacy behind, something to stamp is legacy, so he is chosing to reform social security and sayin its a major problem, if he didnt run up serious decificts it wouldnt be that major right now, maybe a few years down the line but right now

plus the average person doesnt kno shit about the stock market, i dont kno what kinda stocks would be available or is they have diversified portfolio's to reduce risk, but its a bunch of shit, im sure some1 could come up with a better plan

I disagree with the 2 trillion or how much ever deficit it will create but I think the plan could work if properly administered. I don't really think that ppl will be investing the money themselves. What I gather from what I have heard is that a corporation like Vanguard will be investing the money for you. If it is a situation like that then ppl wouldn't be able to choose individual securities but will likely choose a mix of securities based on their risk profile etc. So if that occurs it should be a win-win situation unless there is a huge fall in the stock market.

The president's plan is one of the worse I have heard in a long time. Social security is the best public program offered by the US government. It is 100% successful and if left alone will continue to fulfill its purpose. His plan is not needed and goes against the spirit that created the program in the first place. His plan will not gurantee income for current and future generations during their elderly years.

hmm i like the idea since government will not be able to play with the money.. however.. the only people benefitting will be the banks (investment firms) and the healthcare industry.. not the customer/taxpayer.. my solution O Canada

I have never been a fan of social security I think its the biggest rip off.
If i die before its time to collect do I get to will my $ to the person of my choosing?
Nope.
It goes to Oprah, Bill Gates and politicians pockets...

Privitization in my opinion is good for me personally.
what it will do to the economy I dont know

The only way I would like social security is if there was a lock box where your Money is really your money

ditto with me... with the amount of money taken out of my pay check each week i could better invest that money in real estate and conservative mutual funds and retire earlier than 65... PEOPLE NEED TO WAKE UP.. the government takes out so much money and then dictates what age you can start drawing off of it.... imagine what you can do with that money now if you were a smart investor and a responsible person...

but as per usual the responsible people suffer at the hands of the irresponsible ...

question: who benefits from it all if you privatize social security.. the hospitals, the investment bankers, the insurance firms, the rich will just remain getting richer..

Take a look at a bill from the hospital, the hospital charges 600 medicare says the service is worth 300, government pays 80% the other 20% goes to the patient.. will you be able to pay for that 600? or whatever your insurance refuese to pay?

*checks Canada's immigration requirements*

My issue is this: They've been taking money out of my check since I was 18. I should be bloody rich by 65. Why the hell my money, which they've been taking out forever, not accounted for now?!?

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