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kane · 11-10-2004, 07:54 PM

the current social security system is set up to fail. When it started most people lived to be early to mid 60's. Now the norm is mid 70's and many are living longer.

In the next 2-5 years the baby boomers will be retiring and will draw heavily on the system and it could be a situation where there is actually more going out than coming in.

the constant raiding of the SS surplus over the years had crippled it. Bush himself promised to not touch it, but did and even budgets for tapping into it.

I'm for privatizing it if it means that people will still have the money automatically taken out of thier checks and there is a sound plan put in place. If the people are left to take the money themselves and invest it, it will never happen. For every person that takes that extra 7-8 % (15.3% if you are self employed ) and invests it as they should, there will be 10 people that will just spend the money and not worry about it which could land us with many, many people reaching thier retirement age and having nothing to live off of and we quickly become a welfare state.

It could work, something needs to be done, I just hope they really make sure they know what they are doing.

11-10-2004, 07:54 PM
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	the current social security system is set up to fail. When it started most people lived to be early to mid 60's. Now the norm is mid 70's and many are living longer. In the next 2-5 years the baby boomers will be retiring and will draw heavily on the system and it could be a situation where there is actually more going out than coming in. the constant raiding of the SS surplus over the years had crippled it. Bush himself promised to not touch it, but did and even budgets for tapping into it. I'm for privatizing it if it means that people will still have the money automatically taken out of thier checks and there is a sound plan put in place. If the people are left to take the money themselves and invest it, it will never happen. For every person that takes that extra 7-8 % (15.3% if you are self employed ) and invests it as they should, there will be 10 people that will just spend the money and not worry about it which could land us with many, many people reaching thier retirement age and having nothing to live off of and we quickly become a welfare state. It could work, something needs to be done, I just hope they really make sure they know what they are doing.