Going the Way of the Buffalo...Social Security
Many people have different views on what should be done with Social Security just as they do with what should be done about the taxes that we pay. However, I am sure that we all can agree that if Social Securtiy is something that is left to die, that we will all suffer in the long run. I feel that even thought I probably won't ever recieve much in the amount of Social Security, something is better than nothing. Private accounts that the President has proposed would allow younger workers that ability to save their own money pre-tax and allow them to set up a fund which they would be able to utilize when they are able to collect Social Security, or what is left of it. Possibly a good idea for younger generations, who are less likley to receive any Social Security at the rate we are going today, and a bad idea for those who are already collecting.
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3 comments:
I think that Health savings accounts are a great idea. Having your own savings account would also cause people to only go to the doctor when absolutely necessary. By having to use your own funds, it will be less likely for people to go into the doctor every time they have a little sniffle. This would hopefully lower insurance and in the end everyone would win.
Private accounts are our only hope for eliminating the ever-expanding reliance on subsequent generations for old-age funding. The current Social Security dynamic is one large pyramid scheme! There is no incentive for the elderly to advocate population control when they are reliant on population expansion to fund their retirement. Without the support of the older generations, population control policies will face great difficulty passing, resulting in a Malthusian doomsday of resource deprivation. (Try defeating the AARP; it’s nigh impossible.) To incrementally implement change, SS payments should be phased out beginning with the highest income brackets, i.e., no SS for those with pensions exceeding $50,000 annually.
Social Security is in trouble in this country and something needs to be done so that social security can be preserved for future generations. I don't know if making social security private would do anything unless some sort of reward was offered. I can say that I would not invest my money unless I had a good reason. With all these people retiring how know if it will be around in 10 years or 20 years from now?
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