social security petition

[LD]

I know most of u love Bush and the wonderful things he is doing for our country, so I won't make any other comments
here's the link
http://www.moveon.org/socialsecurity/

disagree with Bush -- sign it
agree with him -- don't sign it
that easy

[95Batmobile]

Sign something with no information other than "Take a stand for Social Security. Sign our petition to Congress opposing Social Security privatization. Our goal is to deliver 500,000 signatures to Congress in just 10 days."



And what does agreeing with Bush have to do with your opinion on this issue? Didn't know being republican means you must always do what the head republican does.

[PewterBird]

Social Security is going bankrupt. We are a a surplus now simply because most of the BabyBoom generation is still in the workforce. Over the next 20 years they all will retired or close to retired, and recieving benifits.

The problem with social security is that it is a big IOU. They techanally have an account for all the money, but it is more like a Credit Card account than a Savings account. The money we are paying now goes directly into the pockets of those recieving.

Before you choose sides on this topic, you have to understand what Social Security mean. To people without a retirement plan, it is a old age insurance policy, to ensure those who cant afford to pay for retirement to have some income, after they are no longer able to work. For those who have made adequate money in thier lives and have retirement saved, it like another retirement account. The only problem with that is that it pays very low interest. Just enough to keep up with inflation. And it is not transferable to heirs, which is unlike a retirment acount.

Privatization would allow those with money to invest it in govt sponsers accounts like bonds, amd mutual funds, that can earn 7-12%. On the other hand increase intrest comes with increased risk. Those that think of SS as a insurance policy, don't want to take that risk.

What we have to understand is that the people on this board age group 16-30 are going to be paying money out of our checks to the richest generation the world has seen.

Privitzation is not the biggest thing to worry about. They may raise the SS tax from 12% as high as 18%. Or if you have saved money in you life, and your retirment income from your investments reaches a certain yearly income level, they may choose to cut your benifits or take them all.

Kinda like if you don't need the money they are not going to give it to you. Even if you payed 12-18% for the last 45 years.

Privitized accounts can keep your money in accounts with your name, where the govt can't take it. They may allow the tranfer of assets to hiers. Not to mention the increase of new money into the stock market can only do good things for everyone.
The draw back to privitazation is that the operation cost for seting up and monitoring this might come at a huge cost. Not to mention MF Companies are the most trustworthy of people.

Just a few expanded topics of SS that peopel should consider.