Since 1980 I have paid approximately 135000 into the trust fund an amount matched by my employer to reach a total of 270000. The government claims a return rate of 2.7%. Although this return rate is pathetic I would still have over 500000 in the piggy bank now with 9 more years to work before retiring. I am no math major but I should have over a million bucks in ss when I retire. The gov will give me about 2400 a month to live on. Seems like a sweet deal for the gov because no way I live long enough to spend a goth of that. Now how is this called an entitlement. SS needs to be privatized.
Social Security is the biggest scam in politics, and it has public support only through and because of fraud. It is nothing more than an Enron-style financial scandal on a much, much, much bigger scale. It used to be that Democrats perpetuated the fraud. Now both parties perpetuate the fraud.
MrD The way it is RUN is the fraud, not the concept. is there anything inAmerican working people's behaviors in the last 75 years that suggests to you they are , as a category, responsibile enough to save for their own retirement? True SS was never supposed to be a ' retirement" fund but since it is de facto many people's only retirement fund would you want to eliminate it? And true anytime the feds are in control of something it is a huge F'Up, still would you eliminate it? I don't know the answer but I know SS is a ponzi scheme of the worst kind for many OTOH it is life saving for many.
You can privatize it and force the saving and every recipient would be better off with 2 exeptions - 1. Those collecting disability benefits who were disabled before they paid enough in to fully fund their withdrawals and 2. The politicians, who got a huge pile of our money they could spend while claiming it was all really still there.
Don't disagree. A disability insurance component could easily be built in. With that in place, a privatized program would be better for everyone except the politicians.
A privatized SS system would eliminate corruption, stupidity, theft, and incompetence! Bernie Madoff would never exist in such a world! In an age in which 57% of Republicans believe that God created the earth and man in his own image sometime within the last few thousand years and in which Obama was just reelected, you want to leave such vital life decisions to the electorate?
