I've been talking about this with a few of my friends, talking about what the pros of it would be. Thought that it might be a pretty interesting discussion in here. If it were to be privatized, the tax burden on our upcoming generation would be relieved, and the plans for the social security fund going bankrupt would more than likely disappear. Just curious on what you guys think about it.

what exactly do yu mean by privatising social security?

the way i've seen it, when governemnts privatise anything, it means people usually have to pay more, higher bus/train fares , wheel clampers, exorbiant parking fees.

privatisation os SS might mean those who need to benefit from it would ave pay for it themselves in the form of long term bank loans

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I have something to hide.

I think it is an interesting idea, but something would have to be done for those of us who have contributed into the system to date. I have put a LOT of money into the sytem and if I don't get at least some of that money back into any private account I may have in the future, then the SS system to me is no better than a pyramid scheme that I got into too late to get my money back.

Why.

Because a private organization could not perform the shady accounting that the US Government does without being charged with running a pyramid scheme.

The only way this would work is if the US Governement paid back all the money ever "borrowed" from the social security fund. Otherwise this private organization would not be any less likely to go broke when the baby boomers start retiring and the current tax payers can't fund all their retirement benefits.