Privatized Social Security? Good Idea?
By meepsack
@meepsack (9)
United States
June 22, 2008 10:31am CST
I was wondering what your guys take on privatized social security was? Short of raising up the S.S. tax and reducing the people who qualify for it, we can't do much for our current system in the United States. It is failing and we will be wasting tens of billions of dollars on it to keep it alive here soon. Maybe we can set up a mandatory saving account that only you (and maybe your spouse) can access after a certain age or emergency event occurs. That way you get out of the savings account what you put into society. Of course that may leave out some lower income people. Maybe the government can step in a little bit and put into the funding for those making less than a certain amount? I think it is a good idea if we tweaked it a bit.
2 responses
@spalladino (17891)
• United States
22 Jun 08
I don't think requiring people to opt out of the Social Security System is a good idea but I do agree that they should be able to if they choose to. There are a lot of people in this country who don't have bank accounts for one reason or another which is why you can find check cashing businesses in just about every town and city in this country. I do agree that the Social Security system is in trouble now that the Baby Boomers are reaching retirement age and I don't think it's fair that their children and grandchildren should be penalized because we're living longer. The age to receive full benefits has been creeping upwards in response to this but maybe workers who are over the age of 50 should contribute more? I think that 401Ks and IRAs should be encouraged more and made available to more workers, too.
@snowy22315 (181992)
• United States
22 Jun 08
Clearly something has to be done about the system. I dont know what it is though. I've worked all my life and paid into the system, so I really hope SS is there for me to draw on. I'm not going to be dependent on it though I am
pursuing other options.
