Cafferty File: Privatizing Social Security
November 13th, 2009 | by security |heathr456 asked:
From the Cafferty File: Bear Stearns, Lehman Brothers, Merrill Lynch, AIG, Fannie Mae and Freddie Mac. The crisis on Wall Street is enough to rattle any investor Let alone one who is about to retire or whos already living on a fixed income. 401(k)s and pension plans — many of which have exposure to these troubled companies — are taking huge hits as a result of this mess. Luckily we have the safety net of Social Security to fall back on For now. You may remember just four years ago President …
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12 Responses to “Cafferty File: Privatizing Social Security”
By SterlingSadler on Nov 14, 2009 | Reply
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By jjrglobal on Nov 22, 2009 | Reply
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And another big difference privately run ponzi schemes are ILLEGAL, for some reason government run ponzi schemes are not, but it’s amusing that you’re defending the government that continues to steal as much as you let them.
By jjrglobal on Nov 22, 2009 | Reply
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It’s amusing how people still act like there are funds left in social security to give to anyone. SS is the largest ponzi scheme in world history.
By 17Spartacus76 on Nov 25, 2009 | Reply
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“in a privately run scheme, funds will dry up eventually and the whole thing falls apart”
This is a good thing, it exposes the fraud before it consumes the entire economy.
“While in a government run, contribution is not optional”
Correct, they force you into their scheme at the point of a gun, unilaterally change how much you will contribute and how much you will receive. This is not good.
The alternative, being responsible for your own savings, is far better.
By saucy05 on Nov 28, 2009 | Reply
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Except one big difference, in a privately run scheme, funds will dry up eventually and the whole thing falls apart. While in a government run, contribution is not optional, so it will keep going until the population or the economy contracts.
It’s not perfect, but it’s better than the alternative.
By AhhCulo on Nov 29, 2009 | Reply
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Lets see, pensions are vanishing, financial institutions have lost countless dollars that Americans trusted them with, 401k…. a joke! Social Security is being considered for privatization, the few peanuts some retired people get. Save your money….where? The eh ah banks? Regular people are getting FU—!
By profwito on Dec 1, 2009 | Reply
security consultant
Most Americans would benefit more from saving their money that they usually pay in SS taxes than from receiving SS in the first place.