10/27/2004

Privatize Social Security Before it’s to Late.

The legislative branch knows the Social Security (SS) system sucks. If it SS was a good thing would not our representatives be on it with us. The truth is SS system is no good and they know it so they legislate themselves a new retirement system. How fair is this, they not only get a better retirement, but it is funded by the US taxpayer. That right there makes me want to run for congress. The truth is the government knows the SS system is going to fail, they (meaning all politicians) are afraid of the AARP (American Association of Retired Persons), because they are the ones that vote and cause the biggest stink on capital hill. The truth is those of us under the age of 50 would be better off to vote for representatives that would do away with SS and privatize it. (I’m sorry but this may cause some of the stupid people to go hungry and cold, but remember we can’t always help the stupid people, those that won’t save for the future)

2 comments:

Ernie said...

Student 01 would be wise to alter his attitude before any attempt at getting into congress is made. Anyways, with baby-boomers close to retirement age, there is no question that Social Security is in desperate need of restructering. Just saying that we should privatize it, doesn't say anything about what needs to be done or why it even should be privatized. What is privatization going to do? Explain yourselves.

Dr. Tufte said...

The real issue with social security is that it lacks binding committments about how it will be funded. Specifically, they need to have a rule that says that the age at which you can receive benefits will increase to keep the ratio or receivers to payers constant. That will solve all the problems (as long as the rule is written in stone).

Rufio is more correct than he guesses: Medicare works just like social security, and looks to be a bigger problem in our lifetimes.