Concerning the Privatization of Social Security
Social Security (SS) is one of the major factors of American life. We are issued a number at birth. This number is one of the most important parts of our lives. It is used in the first part of life mainly for identification, along with our birth certificate. It is one of the ways we can prove who we are. Later in life, it is how we claim our SS benefits.
The has been a great deal of debate recently about privatizing SS. To my mind this makes a lot of sense. Think about it. The government routinely takes money from our paychecks to give back to us when we retire. Essentially it is the government's way of making sure that its citizens have money at retirement. It was never intended to be the only source of income at retirement. A supplement for, and only a supplement for, other money salted away is what it was meant for at its beginning.
However, things have changed. The government now uses our hard earned money to fund useless projects. SS is not being used as a supplement for retires and the disabled, but as a government slush fund to finance projects in order to win Congressmen more votes. Now there is a way to limit the amount of money that the government receives in this manner. By letting people decide how to invest it, they are limiting the possibility for more government pork barrel bull.
I don't know about everyone, but I bust my hump for my money. I don't really have a problem with there being a safety net for retires and the disabled, but there needs to be a way to guarantee that it remains just that. There is no reason for my money to be used to build a bridge in Poughkeepsie. It is supposed to be there for me.
There are two benefits to this plan. First, by allowing the people to put the money away for themselves, it allows opportunity for growth. Secondly, it forces the government to cut down on the pork. By decreasing the the cash flow into the government, they are forced to prioritize quite a bit more. I think that people can only derive benefit from a more streamlined government. Even if the people take their share of privatized SS and stick it in a bank, they will be doing more and better with it than the government ever could. There is no financial wizardry necessary. If people wish to be creative with it, there are investment advisors out there. This can only lead to a better life for people.
Disagree? Prove me wrong.
The has been a great deal of debate recently about privatizing SS. To my mind this makes a lot of sense. Think about it. The government routinely takes money from our paychecks to give back to us when we retire. Essentially it is the government's way of making sure that its citizens have money at retirement. It was never intended to be the only source of income at retirement. A supplement for, and only a supplement for, other money salted away is what it was meant for at its beginning.
However, things have changed. The government now uses our hard earned money to fund useless projects. SS is not being used as a supplement for retires and the disabled, but as a government slush fund to finance projects in order to win Congressmen more votes. Now there is a way to limit the amount of money that the government receives in this manner. By letting people decide how to invest it, they are limiting the possibility for more government pork barrel bull.
I don't know about everyone, but I bust my hump for my money. I don't really have a problem with there being a safety net for retires and the disabled, but there needs to be a way to guarantee that it remains just that. There is no reason for my money to be used to build a bridge in Poughkeepsie. It is supposed to be there for me.
There are two benefits to this plan. First, by allowing the people to put the money away for themselves, it allows opportunity for growth. Secondly, it forces the government to cut down on the pork. By decreasing the the cash flow into the government, they are forced to prioritize quite a bit more. I think that people can only derive benefit from a more streamlined government. Even if the people take their share of privatized SS and stick it in a bank, they will be doing more and better with it than the government ever could. There is no financial wizardry necessary. If people wish to be creative with it, there are investment advisors out there. This can only lead to a better life for people.
Disagree? Prove me wrong.
posted by vox_veritas at 5:28 PM
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