(01-14-2019, 06:19 PM)mikesez Wrote:

(01-14-2019, 05:42 PM)jagibelieve Wrote: Regarding Social Security, it should have been privatized a long time ago... even prior to the President George W. Bush administration talking about it.  Take a look at how much you have paid into it over the course of 1 year and imagine how much that would be worth even at a low interest rate.  Multiply that over the course of your working career and you end up with a much higher figure.  The bottom line is, people, not the government should be responsible for saving for their own retirement.

Minimum wage and maximum working hour laws should be done away with and let the free market sort it out.  Government has no business telling private businesses what to do or how much to pay.

It can't be privatized for basically the same reason.
Today's taxes fund today's retirees. its operating only about a year ahead of its expenses. You're talkin about it suddenly operating 20 30 40 years ahead of its expenses. It would need an enormous one-time cash infusion to make the transition. They could try to do it with quantitative easing, but that could turn into a snake eating its own tail while really messing up the bond market.