Privatization of social security gives banks more money to loan to new and growing businesses, which helps the economy significantly. We can have the government insist new adults to plan for private pensions. We can have small state subsidies with private pensions to help the poor who have trouble creating their own private plans. Privatizing social security will help the economy grow, dramatically.
Yes, social security privatization would improve economic growth, because there would be much larger investments in stocks and other financial products. If social security were privatized, each person would have a large amount of money to invest. This would create an influx of money into the markets and would be largely beneficial.
Social security was designed to help the economy and was started by FDR during the depression to help bring us out of it. Tax payers have already worked and paid into it. Before it began poverty among seniors exceeded 50 percent. If it is made private seniors that have already paid in planning on it would be left without coverage. It could also increase poverty rates because people ,ay not he able to afford or plan for it.