Great Social Security Debate on CNBC

Should social security be phased out and all the money placed in a retirement plan like an IRA or a 401k? If social security becomes privatized in these individual retirement plans, what happens if there's just not enough there for you to live on because you bet wrong in the stock market? Or because you live too long and your funds ran out? Or if you become disabled? Or if you die leaving minor children? If the accounts are completely individual and you can't draw from a larger insurance fund, do you just become homeless or just die?

These are questions proponents of individual funds can never answer. They demonstrate the superiority of the current social security system.
Comment on this show here: http://radioinsidescoop.com/?p=6578.
Join the Mark Levine Fan Page on Facebook here: http://www.facebook.com/pages/Mark-Levine-Fan-Page/115305145146785

Category:

News & Politics

Tags:

• Mark
• Levine
• Social
• Security
• Larry
• Kudlow
• CNBC

[kfeder76]

He said it I didnt...the way social security has worked is the younger people pay in and the older people take it out its called the legacy debt? Sounds to me like a pyramid. Its worked for 75 years just leave it alone...? Bernie Madoff should have used that in his defense...it has worked for ten years just leave it alone. Why does the liberal think people have to invest in junk bonds and then they will go broke? Does he understand that you could invest in treasury bills also?

[CABRON189]

Enough!!! Social Security should be destroyed, i am not going to, or plan on, receiving its benefits. That is why we have 401K ppl.

[rememrald30]

stew sounds good. probably, by the government, for the government. and look at the token hole, up there with the men. shes probably a jew

[Stewbabynv]

Oh goody, the rich will get richer with our retirement money, then crash it (Wall Street) and run with the loot... LOL... I am laughing my ass off because we Americans are that stupid to let it happen, lol, lol, lol, lol, lol, lol..

[MagnusRulerHardt]

Look at Norway. Best country to live in (UN), highest HDI. We have the best developed social security system. It's what makes us awesome.

[FatTony726]

Privatize it, Man!

[joetheeconomist]

If you are interested in solutions visit FixSSNow.Org. We consider them all even the lockbox. If you see one missing let us know what it is...

[Halo3Player22]

The word 'legacy debt' concerns my generation.

[jfeltes]

Social security works and has worked if only we didn't steal from it all the time.

[BlacksAreBeautiful]

damn...I can't remember the last time hearing a debate where i agreed with both sides of the debate...I'm more conflicted now, than I was prior to watching this..