(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.

Cut it off at say age 55 or so.  People over that age would still get their EARNED SS benefit.  Allow people younger than that age to invest/save for their retirement with the funds that they receive are allowed to keep that they earned and not confiscated by government.

It all comes down to personal responsibility and less big government dictating what we do with our lives.

Me personally (middle 50's) am not counting on SS being there when I do get to retirement age.  Even if it is, I don't DEPEND on it to fund my retirement.  I have saved a "nest egg" for when I do decide to stop working, paid my bills off and don't waste money on the next new phone, "I device, Amazon device" or computer that is popular.

The problem is, most people think that they have "paid in" for their retirement and expect it to be "paid out".  That's really not the case.  Social Security never was and isn't a retirement account.  It was never meant to fund someone's retirement, yet many people rely on it as their sole source of income.

Personal responsibility has been thrown out the window a long time ago.  It's all about "what the government gives me" rather than what a person earned.

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