Why not make Social Security like a 401k?

2007-06-23 00:06:12

#1

Harmor: Error_Name_Not_Found; +605|6993|San Diego, CA, USA

I don't know about you but if I could invest 15% of my pay towards a 401k, even at 6% interest in a bond I'm sure when I retire I will have alot more money than the government would every dole out to me.

Now I know we have alot of existing people on the system and I'm all for a safty net so the poorest among us still can have the basic necessities - those could be fees that we pay on our private Social Security accounts, say 2-4%/year.

Can anyone give me a reason why we shouldn't privatize Social Security?

2007-06-23 00:23:33

#2

Turquoise: O Canada; +1,596|6850|North Carolina

I agree... I think we need to privatize it and slowly work towards phasing it out while giving the states a chance to replace it with their own programs. This transition period would likely last for at least a decade, but it's better than just continuing as normal.

2007-06-23 15:50:25

#3

iamangry: Member; +59|7090|The United States of America

Yep, i shouldn't pay for the generation that fucked this country up to retire when I'm also gonna have to fix their mess.

2007-06-23 16:01:12

#4

Stingray24: Proud member of the vast right-wing conspiracy; +1,060|6890|The Land of Scott Walker

I'm all for privatization, but then the politicians couldn't get their grubby hands on the money if every taxpayer actually owned the money instead of an IOU from the government. Therefore, I don't think it'll happen.

2007-06-23 16:03:03

#5

S.Lythberg: Mastermind; +429|6892|Chicago, IL

YES!!!

Social security needs to be privatized, and fast, I'm not too happy that I must pay into a system that i will not be able to benefit from in the future.

Besides, corporations tend to be far more efficient than the government, and will likely offer a higher rate of return on the money.

2007-06-23 16:03:59

#6

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

<3 Canada

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:05:31

#7

PsychoKillers: Walking Sniper, Hidden Claymore; +11|7048

Social security was just a quick fix during the depression that wasnt suppose to last long. Far to many people are dependent on it and within the next 20 years theres going to be nothing left. There are not enough people putting money into social security anymore because of our longer life span compared to the 20's.

2007-06-23 16:06:02

#8

usmarine: Banned; +2,785|7206

d4rkst4r wrote:
<3 Canada

wtf good is this stupid post?

2007-06-23 16:08:09

#9

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

usmarine2005 wrote:
d4rkst4r wrote:
<3 Canada
wtf good is this stupid post?

means im happy to live in canada poindexter.

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:08:51

#10

usmarine: Banned; +2,785|7206

d4rkst4r wrote:
means im happy to live in canada poindexter.

I get that. What does it have to do with social security?

2007-06-23 16:10:54

#11

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

usmarine2005 wrote:
d4rkst4r wrote:
means im happy to live in canada poindexter.
I get that. What does it have to do with social security?

From what I hear (since im not old enough to really honestly care about it), that our system seems to work fine.

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:20:14

#12

Harmor: Error_Name_Not_Found; +605|6993|San Diego, CA, USA

What is the Canadian equilvalent of Social Security?

2007-06-23 16:20:49

#13

usmarine: Banned; +2,785|7206

Harmor wrote:
What is the Canadian equilvalent of Social Security?

Free Tim Horton's products and hockey tickets?

2007-06-23 16:21:25

#14

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

I think it's called Social Insurance

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:22:39

#15

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

usmarine2005 wrote:
Harmor wrote:
What is the Canadian equilvalent of Social Security?
Free Tim Horton's products and hockey tickets?

Still would be worth more then America's Social Security.

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:23:45

#16

usmarine: Banned; +2,785|7206

d4rkst4r wrote:
usmarine2005 wrote:
Harmor wrote:
What is the Canadian equilvalent of Social Security?
Free Tim Horton's products and hockey tickets?
Still would be worth more then America's Social Security.

How? Please explain then. Cite examples comparing both.

2007-06-23 16:24:20

#17

Airwolf: Latter Alcoholic; +287|7165|Scotland

d4rkst4r wrote:
usmarine2005 wrote:
Harmor wrote:
What is the Canadian equilvalent of Social Security?
Free Tim Horton's products and hockey tickets?
Still would be worth more then America's Social Security.

This is D&ST, not junk drawer.

Anyways, what a great idea. Although I'm not from US...

2007-06-23 16:30:39

#18

JG1567JG: Member; +110|7033|United States of America

d4rkst4r wrote:
usmarine2005 wrote:
d4rkst4r wrote:
means im happy to live in canada poindexter.
I get that. What does it have to do with social security?
From what I hear (since im not old enough to really honestly care about it), that our system seems to work fine.

Our system is working fine also except we have this generation of people called the Baby Boomers that are in the process of retiring now. The baby boomers were born after all the soldiers came home from WWII. The retirements of the Baby Boomers is starting to cause a massive depletion to the funds that are allotted to pay soc. sec. payments. There is still plenty of money there to pay the Baby Boomers but from what I have heard, by the time I retire and about that same time, around 2040, the money will be gone.

I am quite happy with the system my country has too since we are looking into the future of our working class and trying to fix a problem 30+ years before it gets here.

I would like to be able to take part of my soc. sec. tax and invest it in the market in a similar way as a 401K but how do you do this when people that are living off soc. sec. payments that are relying on your soc. sec. tax coming out of your paycheck? The only way I have really thought of is to give back some of the profit off the invested money. This gets more complicated if the market goes in to a major recession.

Last edited by JG1567JG (2007-06-23 16:40:32)

2007-06-23 16:35:36

#19

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

usmarine2005 wrote:
d4rkst4r wrote:
usmarine2005 wrote:

Free Tim Horton's products and hockey tickets?
Still would be worth more then America's Social Security.
How? Please explain then. Cite examples comparing both.

Shouldn't be to hard to cite, all I have to do is compare a social insurance number to a bag of shit.

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:38:02

#20

usmarine: Banned; +2,785|7206

d4rkst4r wrote:
Shouldn't be to hard to cite, all I have to do is compare a social insurance number to a bag of shit.

Well apparently it is since you still have not. Thanks for playing.

2007-06-23 16:42:06

#21

Reciprocity: Member; +721|7025|the dank(super) side of Oregon

and what happens when you lose all your social security money in Enron stock? go back and ask for more? I'd love to see social security actually secure in our country, and not some fat ass politicians piggy bank. A higher interest rate would be wonderful but it was created as a security net to help keep people off the steets and safe in bad situations.

2007-06-23 16:48:18

#22

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

usmarine2005 wrote:
d4rkst4r wrote:
Shouldn't be to hard to cite, all I have to do is compare a social insurance number to a bag of shit.
Well apparently it is since you still have not. Thanks for playing.

Canada:

https://i26.photobucket.com/albums/c145/d4rkst4r123/cpp-chart7_e.gif

America:

https://i26.photobucket.com/albums/c145/d4rkst4r123/holy_shit.jpg

Truths hurts, doesn't it? Thanks for playing.

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:49:21

#23

usmarine: Banned; +2,785|7206

1976? God you fail.

2007-06-23 16:50:07

#24

d4rkst4r: biggie smalls; +72|6898|Ontario, Canada

1976, thats for the year that people started working numb nutz.

"you know life is what we make it, and a chance is like a picture, it'd be nice if you just take it"

2007-06-23 16:53:47

#25

usmarine: Banned; +2,785|7206

d4rkst4r wrote:
1976, thats for the year that people started working numb nutz.

sigh

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