Facebook destroys Republican myth of privatizing social security panacea

Zero "gain." Do you not realize most people retire with NOTHING? So these people who can't put even a few dollars aside in a safe investment are going to be given the reins of their Social Security account by Republicans. How much failure do you have to see before you realize some controls need to be put in place?

 

We could always legalize 840 month abortions or create a reality game show where all the seniors who haven't enough savings to make it through the twilight years compete in a death match for a retirement fund.

 

You cite the 2000-2002 crash and how Republicans get all quiet about SS privatization whenever something bad happens on the stock market, yet SS privatization was Bush's baby back in 2003. Either you have your own kind of logic about Republicans, or maybe we're just not as "intelligent" as you are...

 

Not every single person who paid into SS received a check. Many people die before they even get to the retirement age.

 

The government can do a lot of things but it can't build a time machine and go back and make payments to them. Also if someone dies early their wife and young children get survivor benefits.

 

Huh? There have been no stock market gains? And now you change the subject to the saving habits of "most people" with a dubious claim.

Now I do get a kick out of you ranting about controls when politicians have been robbing the Social Security "trust fund" for decades and diverting those funds to other things.
"Controls" indeed.

 

Then its not really a problem for them, now is it?

 

Most people retire with a net worth of 0 or NEGATIVE.

 

Sure it is, because they earned the money, made the money, worked for the money, and then can't enjoy it because its in the hands of the government.

 

And...

 

True, but if they were able to keep their OWN money and do with it as they wish, then the problem would be solved.

Yes, their spouse may get the money but they still never saw it on their own, which is bs.

 

The opening post of this thread illustrates in grand fashion the vast majority of people are incapable of "keeping their OWN money." I prefer to deal in reality... not fantasy.

 

SS originated out of a noble premise. After seeing the disaster that the Stock Market Crash was, people lost their faith in the stock market and wanted government protection of retirement funds. It seemed like a good idea.

What they didn't plan for, however, was how politicians raided its funds for their own projects.

It's too far down the line to do much about it now. A lockbox on SS funds now would at least salvage retirement funds for Baby Boomers and maybe even the Baby Bust generation, but beyond that, people should consider phasing out SS, or... at the very least... raising the retirement age over time.

The current system is very broken.

 

There's always the Russian pyramid scheme:

Apparently the ones around here are making close to $40k a month. It's a gamble, but those seniors do like to play with Lady Luck.

 

And looking at the federal spending, debt and deficit, you think it's a wise move to give THEM the power and the money??????

ROFLMAO!!!

 

I've had a 401K ever since the mid 90's and I've done very well.

I'm taking responsibility for myself and my money and not depending on other people or the federal government.

So, you can hate me for that. It's your right.

 

Those social security checks have gone out like clockwork for decades. Can't say the same for the accounts at Lehman Brothers, Bear Stearns, et al. If the US government were ever to default on its debt payments trust me that wonderful privatized SS account you think will solve everything won't be worth spit. You think Facebook stock is a hedge against US government default? Wake up.

 

SS takes approx 6% from your paycheck. If you were to invest that 6% in a diverse investment portfolio on a dollar-cost averaging basis from the time you start your working career, you could probably retire at a very young age and not have to work again for the rest of your life. SS is a rip off. You folks out there that are 20 to 30 years old.....Start saving and investing right now. Go on the internet, learn about investing...By the time you are 50 or so, you'll be set to retire. Maybe even sooner.

 

Wonderful!

Now if only science and public policy were dictated by the exception to the rule versus the trends that are applicable to the majority!

 

Mighty big "IF"

 

Uh huh.... that's why there's an entire sector of the legal industry that gets people benefits the government has denied them.

But still, the fact remains this is about freedom. You want to give the power, money and control to an inept and incompetent federal government rather than let people control their own destiny.

What happened to you people being "pro-choice"?

 

To you and the circles you run in, perhaps. And who's making any claim about being tough?

Oh, never mind. Just another straw man diversion. Carry on.

 

The problem is, is it worth constantly thinking about jumping off a rooftop everytime a bank conjures up another way to lose your money in another *special* liquidity of market scheme ...

 

You know why I didn't buy Facebook stock?

Because it was a stupid investment.

Stop trying to use government to protect people from themselves.

Millions upon millions of Americans have invested, themselves, in their retirement and very successfully.

 

This isn't about "freedom." This is about having a stable western first world northern hemisphere country. You cannot drive on the left side of the road. You do not have the "freedom" to do that. Why? Because in order to have a stable first world country that "freedom" must be taken away. Now you know why pure Libertarian governments do not exist in first world countries.