I keep hearing that Social Security is not a retirement. It’s supposed to be a supplement. However, the reality is that many do depend on Social Security for their sole retirement. Many employers don’t even offer retirement plans. Those who work in retail or food service aren’t really making enough to justify putting away retirement money when they’re struggling to pay their bills & put food on the table. So the big question of the day is whether or not we should privatize Social Security, at least partially. The answer is a resounding yes. The proof is in all the different Public Employee Retirement Systems there are. Whether it be PERS, STRS, FERS or Railroad Retirement; Social Security doesn’t have near the payout for the exact same earned wages.

A teacher who started teaching in 1983 at $14,000 per year retiring in 2006 at $60,000 per year will receive about $2,526 per month upon retirement. Those same wages when calculated for Social Security will come out at $911 per month (http://www.ssa.gov/retire2/AnypiaApplet.html). This is based on retirement at age 62. Even when calculating Social Security retirement at age 65, including inflation, the monthly payout is only $1,360 per month.

Current railroad retirees will collect nearly $3000 per month in retirement benefits. Their retirement is at age 60 with at least 30 years of service. Social Security would be about half that.

Each of these retirement examples are a form of privatized Social Security. Your contributions are deducted from your paycheck just like, but instead of, Social Security. Those who have these retirement plans, in most cases, give up any Social Security they may have contributed prior to enrolling in their respective retirement programs. These plans replace Social Security as a retirement, not as a supplement.

It’s about time the general population is given the same opportunity for a brighter future & retirement. Privatizing Social Security is the only way that’s possible.

Actually the more Bush cuts taxes, the more he screws up social security, and the more he makes it an issue. Why not privitize SS and raise taxes, seems like a good comprimise to me.

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"The person who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by the exertions of better men than himself. " — John Stuart Mill