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HomeLAN

HomeLAN

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And yet, polls are showing the majority of Americans are against private social security accounts. Are my fellow citizens really that stupid?

•Workers making $17,000 a year are expected to receive about 50% more per month on our alternative plan than on Social Security — $1,036 instead of $683.

•Workers making $26,000 a year will make almost double Social Security, $1,500 instead of $853.

•Workers making $51,000 a year will get $3,103 instead of $1,368.

•Workers making $75,000 or more will nearly triple Social Security, $4,540 instead of $1,645.

•Our survivorship benefits pay four times a worker's annual salary — a minimum of $75,000 to a maximum $215,000 — rather than Social Security's customary onetime $255 survivorship to a spouse (with no minor children). If the worker dies before retirement, the survivors receive not only the full survivorship but get generous accidental death benefits, too.

•Our disability benefit pays 60% of an individual's salary, better than Social Security's.
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Be sure to read the whole thing.
 
They're against it because the Dems are scaring the hell out of them without giving away facts, making it sound like a "risky scheme" instead of a a limited & overseen 401(k) type plan.
 
The only part that worries me is the people who will invest badly and lose their money (you know they're out there). You don't think that when the time comes the government is just going to say, "You blew it, now shut up and starve quietly?" We'll end up footing the bill. Don't get me wrong, I like the plan. I think it benefits most people. The idiots worry me though. Of course, I personally have it set up so that if I work until my late sixties I'll be more or less independent of social security in any case.
 
We're talking about nothing more risky than an index fund. Over the long haul, it's damned unlikely that even the most moronic investor can do worse than the current system.
 
chcr said:
I personally have it set up so that if I work until my late sixties I'll be more or less independent of social security in any case.
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Mine's currently set at 55. That's what you do if you have a glimmer of foresight.
 
I wish I could get in on some of that. :crying4:

The part I'm wondering about is the people like me...
40, and drawing SS-Disability. Am I going to even be able to get
back out, what I've put it.

Actually this shit's been broken nearly from the start.
Instead of people getting back what they paid in, the people started
paying for other people that didn't pay in, and then have to rely on
other people to pay in just to get theirs back.
That's FUBAR.
 
HomeLAN said:
Mine's currently set at 55. That's what you do if you have a glimmer of foresight.
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Well, I didn't save much when I was a full time musician so I got a late start.
 
The sad thing is those who just don't do it. What happens to them when the current flawed system collapses? Make 'em save.
 
I've said it before, I'll say it again.

Privatizing social insecurity makes more sense than anything I have heard come out of Washington in twenty years or more. I'm 38. Give me the option of privatizing mine. You can keep every penny I have paid in thus far, 23 years worth. Take it. Just let me out. I'll take the money that is withheld from me, pop it in a mutual fund, and blow hell out of what it would have returned under the handout system.

Chile privatized theirs years ago. Last I heard, they're doing just fine thankyouverymuch.
 
HomeLAN said:
Yep! Another thing in favor of personalized accounts. It's by-God YOURS.
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That is the single biggest & bestest reason ever to want this. Your taxes for your retirement is your money. Pay attention to the annual statement form the SSA. Little things like "The statement shows the estimated amount of benefits, under current law, that you and your family may be eligible for now & in the future." Hmmm, so it's not guaranteed???
 
Ahh yes, Social Security, the perfect example of undiciplined government spending. A system that could have worked but was f'd up by, well, everyone involved.
 
Yep. Another in a long long line of reasons to keep gov't out of everything
 
Several years ago. Maybe after you have the required 40 quarters in or somehting.
 
Yup. Apparently, my fellow citizens really are that fucking stupid.

SUPPORT FOR PERSONAL ACCOUNTS DROPS

Bad news today for those working tirelessly to feed the Gimme Generation....it's looking less and less like you're going to get your own private Social Security account. In a new CNN/USA Today/Gallup poll of 909 adults, only 40% approved of President Bush's proposal for private accounts.

Amazingly enough, the scare tactics of the AARP and the Democrats are working. People are believing the lies that there is a trust fund, that George Bush wants to destroy Social Security and that they'll get more from regular Social Security than if a portion of it is invested. Again, those are all lies.

We have government schools to thank for people's ignorance about simple economics. They would rather accept a broken government program with no guarantee of benefits than a private account that will provide them with exponentially higher returns. It's too bad that the liars on the left are going to win this battle.

As the saying goes, people get the government they deserve.

In the middle of all of this it is important to remember just why Democrats are so anxious to preserve Social Security in its present form. It is all about control .. and nothing else. Democrats are constantly looking for a way to tighten their grip on the lives, the futures and the very security of the American people. People worry about retirement. That's understandable. You reach a point in your life when your earning power is limited .. your ability to work more so. You don't want to be scrounging in dumpsters for your next meal. At this point in your life freedom means very little. You've been free. You made your decisions. Some worked, some didn't --- but here you are in your late 60s and your thoughts are much more focused on security than on the freedom to make any more decisions in your life. For many the most important decisions they will be making from that point on will be which bingo game to go to and what color of scooter they want and when to change the oil in the Buick. You're old, you're fragile, you're vulnerable, and you're scared. Security is your main goal. You want to know where your next meal is coming from, where you're going to sleep tonight and whether or not you're going to be able to see a doctor tomorrow. Your total focus on security makes you a prime target for politicians. They know what you want, they know how important it is to you, and they know how easily you can be manipulated.

Social Security has been a prime vote getter for Democrats for over 50 years. In virtually every election since the end of World War II Democrats have told these frightened, vulnerable older citizens that if they dare to cast a vote for the Republicans they will lose their Social Security benefits. These frightened old people look at losing Social Security benefits as something tantamount to death. The lies of the Democrats are heeded .. and senior citizens become one of the most dependable Democratic voting groups out there.

But what happens with private accounts? When politicians control your Social Security checks, threats of having those checks taken away or reduced carry great weight. But what if those checks are coming from an account you own? An account you control, not the government? If the politicians don't have full control over your retirement accounts, how can they threaten you with its removal? The Democrats will say "Vote for a Republican and you're going to lose your Social Security." You think: "You idiot! I own the account! How am I going to lose it?"

The solution for Democrats? Make damn sure that you never own your own Social Security accounts. They can't allow even a small part of your Social Security benefits to come from an account you own. Today, 30%. Next year, 50%. The next thing you know you're counting on yourself for your retirement, not on the government. Bad news for Democrats.

But .. the idea seems to be dead for now. Dead because Americans, especially older Americans, are no longer in love with freedom and personal economic liberty. Security. That's the deal.
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Source
 
Damnit, don't you know that these risky schemes only let the rich get richer. The Average Joe is a piss poor investor. I know because I read it in USA Today (or did I see it on TV) either way, it's not as good a plan as Senator Schmoe says the Dems are presenting. That plan is....hold on, I'm looking....gimme a minute...it's here, somewhere.
 
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