The GOP has fired shots across the bow with recent statements—from Bush administration officials and key members of Congress—to revive their push for privatization. With the 2006 elections approaching, we have a chance to kill privatization before it gets started.
More at http://home.ourfuture.org/straighttalklive/20060815.html
NO....abolish SS or LOOK at Galveston County, Texas where they opted OUT of SS in the early 80s and now they are doing 10 times better on their money in retirement than the governments plan. SS is a ponzi scheme and needs to go!
Marksnotebook 8 months ago
If Social Security were in the stock market in 2008. $4 Trillion in Social Security would be GONE and those living on Social Security would now be living of HALF of their benefit.
If you like to gamble and dont mind living on HALF of your Social Security when Wall Street screws up
Vote Rebublic-Bull-Crapican
If you do not want to live on ALL of your Social Security benefit
Vote Democratic
m530bc 1 year ago
If you had money in the equivalent of an index fun in 1940 (let's say 10k). You'd be a rich as hell right now (yes, adjusted for inflation). Especially since you would have avoided the losses from the great depression. Hell even 1k back then and you'd be rich now. Way better off than what SS pays.
robert0380 3 years ago
The New York Stock Exchange has averaged a 10.4% return on investment over the 100 year period starting 1906 and ending 2006. The average investor typically averages an 8.9% return on investment, which is less than the broader market (a function of investor irrationality and poor investment education, you being a case in point) but still substantially greater than the roughly 3% returns earned by the SSA accounts.
talk2farley 4 years ago
Well Hugh, qould privatization alow you to have countrol over wher eyou money is invested.
If so, then it's a good idea.
For the rest of us dumb schmucks that don't know our way around Wall St., or couldn't invest in a viable, long term enterprise of our own, we'd be better off gambling on the old Sinking Ship plan. But the man said that younger people would do better WITH privatization. If were a younger person I would also have little faith in SS as it is today.
VicDeHaven 4 years ago
I'd like to know what the stock market is really worth today compared to 1940 once it is adjusted for inflation.
Once you do that, privatization may not look like such a hot idea.
VicDeHaven 4 years ago