Clinton pledges caution on Social Security changes

RidinHighSpeeds · 11-27-2007, 04:14 PM

Quote:

Originally Posted by fxashun

Is the social security system in true shortfall, or is the truth that the government can't pay back all the money that it has "borrowed" from the system?

The government should have never been allowed to borrow from our social security.

garysher · 11-27-2007, 04:50 PM

Quote:

Originally Posted by RidinHighSpeeds

So lets say we raise taxes to solve this problem now...what about the future?? Keep raising taxes?? It's definitely a short-term fix, but we need a long-term solution (private accounts)

How would private accounts fix the problem?

fxashun · 11-27-2007, 05:07 PM

I say private accounts and some sort of system to allow for education on how to manage them effectively will go a long way to put retirement in the hands of the people and not the miniscule amount of returns people get off their SSI taxes.

Social Security sucks as a retirement fund. It's structure works much better on the disability side though.

sgtdmski · 12-02-2007, 02:20 PM

If any private company created a retirement system in which you paid money into it, returned a rate of under 2% on your contributions, and kept the money when you died, the American people would be outraged, and Congress would be demanding hearings and passing laws to prevent this from occuring. So, the question is:

IF WE WILL NOT ALLOW THE PRIVATE SECTOR TO DO THIS TRAVESTY, WHY DO WE ALLOW GOVERNMENT TO DO IT??

dmk

indago · 12-02-2007, 02:48 PM

sgtdmski wrote:

Quote:

If any private company created a retirement system in which you paid money into it, returned a rate of under 2% on your contributions, and kept the money when you died, the American people would be outraged, and Congress would be demanding hearings and passing laws to prevent this from occuring. So, the question is:

IF WE WILL NOT ALLOW THE PRIVATE SECTOR TO DO THIS TRAVESTY, WHY DO WE ALLOW GOVERNMENT TO DO IT??

WELL, WHY DO YOU?

-------------------------------------------------------
"This country wasn't founded on toadyism. It just kind of crept into our society, like a cancer, over time." — ME

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fxashun · 12-02-2007, 02:54 PM

Quote:

Originally Posted by indago

WELL, WHY DO YOU?

"You" don't have a choice. And anybody that tries to change the system gets accused of not caring about the senior citizens. "You can't opt out of the social security system. Like any other tax.

sgtdmski · 12-02-2007, 03:51 PM

Quote:

Originally Posted by fxashun

"You" don't have a choice. And anybody that tries to change the system gets accused of not caring about the senior citizens. "You can't opt out of the social security system. Like any other tax.

Yes very true, that loop hole was closed in 1983. Fortunately for those workers in Texas, they were able to opt-out and what has been the result???

Article

SO why is COngress not investigating the SS system??? They are to do the people's work, to look out for us, because we are so incapable of doing it ourselves, yet we still wait.

dmk

fxashun · 12-02-2007, 04:16 PM

Quote:

Originally Posted by sgtdmski

Yes very true, that loop hole was closed in 1983. Fortunately for those workers in Texas, they were able to opt-out and what has been the result???

Article

SO why is COngress not investigating the SS system??? They are to do the people's work, to look out for us, because we are so incapable of doing it ourselves, yet we still wait.

dmk

Thanks for that link, it was enlightening. For me to trust that type of plan in the private sector, there would have to be some guarantee of solvency. Private retirement plans have to have a degree of security, but I think the penalty paid in SS is too high.

garysher · 12-02-2007, 05:45 PM

Quote:

Originally Posted by sgtdmski

If any private company created a retirement system in which you paid money into it, returned a rate of under 2% on your contributions, and kept the money when you died, the American people would be outraged, and Congress would be demanding hearings and passing laws to prevent this from occuring. So, the question is:

IF WE WILL NOT ALLOW THE PRIVATE SECTOR TO DO THIS TRAVESTY, WHY DO WE ALLOW GOVERNMENT TO DO IT??

dmk

Here's two possible reasons:

1) People know that the govt will never run out of money, go bankrupt, go into liquidation, be acquired or be at the mercy of stock market fluctuations. 2% may be a low return but it's better than many fund managers achieve over 30-40 year period when it's all averaged out.

If people were allowed to manage their own SS funds you can guarantee some of them will invest unwisely and blow the lot. And regardless of how you feel, those people will no be abandoned in the forest!

2) You can always vote politicians out of office, but in the private sector you have no say over who manages your money. other than moving it somewhere else. And if your fund manager already lost it that could be moot.

sgtdmski · 12-06-2007, 07:33 AM

Quote:

Originally Posted by garysher

Here's two possible reasons:

1) People know that the govt will never run out of money, go bankrupt, go into liquidation, be acquired or be at the mercy of stock market fluctuations. 2% may be a low return but it's better than many fund managers achieve over 30-40 year period when it's all averaged out.

If people were allowed to manage their own SS funds you can guarantee some of them will invest unwisely and blow the lot. And regardless of how you feel, those people will no be abandoned in the forest!

2) You can always vote politicians out of office, but in the private sector you have no say over who manages your money. other than moving it somewhere else. And if your fund manager already lost it that could be moot.

Oh so we are to trust the government to manage our money. The same government that cannot pass a balanced budget, the same government, that so many of our liberal friends complain, cannot react to a hurricane properly, or engage in a war.

Don't you just love, the same ones that complain about the government handling of the war, or taxes, are the same ones that demand the government handle our retirement and healthcare.

Sometimes it amazes me at how pointless some people can be.

dmk