I can...
Due to federal budgetting caps, social security has been continuously raided for support in domestic social programs, on the grounds that the misallocation of money is "justified through legal precidence of allocation."
Simply: social security is broke, and so indebted we cannot draw from it anymore..
The solution: you continue to pay the usual rate, for people 55 and above, they get to draw social security at retirement age, business as usual..
For the Rest: 4% of your social security payments will be invested, by private brokerage firms, and hopefully your governmentally taxed portfolio will make a profit..
I'm currently researching for an article....
Here are the problems, and conflicts of interest...
Social security was agreed upon on its inception because it GURANTEED a fix income upon retirement, meanwhile the government keeps the economy rolling, using this massive cache of money to fund social programs like the National Recovery Act...
Privatized accounts cannot GURANTEE a retirement income, they can simply go bankrupt...
The Government collects a tax on your dividends...uncle sam take a juicy bite right out of your retirement each time your privatized account goes up..
The Private brokerage firms, due to "oversight and security" are heavily taxed, and suck up profits on dividends to fend off the overhead...
The Government fuels Homeland Security, with massive shares bought by these brokerage firms, to offset national debt...
This is just another sterling example of the Governmentalization of private markets through trade restriction, ultimately raising the price for consumers, and funding Large Government contractors with money that should be used for retirement...
But since bush afronted the social security "fix"...nobody but Crazy-ass Biden is talking about it..
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