The social security trust fund is only there to support the government's debt. It earns at most around 1.5% a year on the government bonds it owns.
I on the other hand, could earn you an average of 10% on your investment. So with this we could do a few things. Either we can take the same amount of money out of your paycheck and you can have 6x the money to retire with. Or we can significantly cut down on your paycheck withdrawal now and you can have more money in your pocket now.
Social Security should be privatized because this program will only affect you in a positive way down the road. Not to mention the government debt is preventing further investments into Social Security. You will gain a right to choose when and how much social security will provide for you depending on your investment.
I do not believe that social security should be privatized because the is a means of the government paying back their citizens for their years of paying taxes. Although an individual's amount of taxes paid doesn't equate to the amount of money they will receive from social security, it is still a matter of having support in order to live a financially stable life after the age of 65.
I believe social security should be privatized because I should choose weather or not I want to put a certain amount of money in their for me. Not only that but the government its self can't even afford it. Also, with the baby boomers there will only be two workers for every retiree receiving benefits which is not enough.
Social security should not be privatized because companies can pick and choose what goes into your social security. If the company where to fail you would lose all your money that you put into the social security fund. Also people would be charged a different tax rate and with the government we are all being charged the same
The argument here is twofold. The first part is that with privitized social security you will be bale to have more say in how much you get and when you get it. If you want to put 90% of your money into your social security then so be it, if you want to put 1% since your first job the summer of sophomore year that's ok too. Second of all the government is going to fold under the cost of social security in the next couple of decades.
I believe Social Security should be privatized. It should not be a priority of the government to figure out the benefits and retirements funds. With each paycheck an individual makes they should be organized in saving it away and putting it towards their future so Social Security doesn't have to exceed the taxes they are receiving in order to fund retirement. With the idea of privatized Social Security individuals will be able to control their retirement future and reset the balance of solvency.
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Yes, Social Security should be privatized because people and their families make their income with hard work, entitling them to doing what they feel free to do with that money without anyone knowing. Taxes are mandatory and if they're paying their taxes, all is well. Having a retirement is a choice on how early you are able to accomplish that.
I feel it should really be up to our choice what we do with our money and how we can invest it in other things or just simply have it in our savings ,and i feel the government has its own money they get from other wages to pay for social security
The program is voluntary in the first place. If the government allows it to go into private hands then the reign of tyranny will be from a private company who will ignore the laws anyways. If people wish to have a retirement program then they can invest their money with an investment company as it is. But because it is done under a treaty the program will be harder to implement if it is in the hands of a private company instead of the hands of a corrupt government.
I think the privatization of Social Security would be bad for everyone. The system currently provides a very basic safety net, which is not motivated by profit. Were the profit motive to enter into the Social Security system, there would be a large presence of companies, with no ethics, looking to transfer as much money as possible to themselves, with the entire American population as their captive customers. People are already able to privately invest of their own choice, if they so wish.
I believe the privatization of social security would be harmful because of the lack of government oversight. Companies would try to increase their own profits by exploiting older adults, especially those who are unable to navigate a more complicated, privatized industry. It is important that older adults be able to afford to live after retirement and the government should be responsible for ensuring that. Of course, social security may need to undergo changes to better improve the lifestyles of older Americans.
I don't think social security should be privatized because not everyone would be able to access it. As a government program, everyone has the same opportunity to access social security. It is also a priority for people to get it as they have to contribute to the fund throughout their working career. If it was privatized, not everyone would find it important to contribute as they would say they can't afford it. Because of that, more people would live in poverty as they aged and less would be able to afford to retire. It is more effective as a government program.
The social security system should not be privatized. A company is a non-entity which means it has the same rights as a person but all too often when there is corruption within that company, no one has to pay the consequences. If social security were privatized, it would open too many doors for the companies running it to steal our hard earned money, and I don't trust the government to oversee the companies running social security.
I do not think that social security should be privatized. While I am a proponent of privatizing almost everything that the government does, I do not believe that we could continue to support the system if the program was shifted away from the government at this time. It is an interesting time now with the big banks are being owned by the government and high salaries associated with handling large sums money are not bounded so it would be a very poor time to take this private. I think that we need to get our financial system in the US underway before we begin to add responsibility to it.
Social Security is too large and important a component of American society to ever be allowed to become privatized. The potential possibilities for abuse by an individual corporation that has access to trillions of dollars is an open invitation to theft by dishonest administrators. The millions of people who live on social security income depend on their monies arriving on time, and a poorly managed social security system privately operated could have devastating results.
For many years, our government has been in charge of Social Security. I know there are problems, but I have been on Social Security for five years and I have been pleased with the service I have gotten. Whenever I have had a problem, I received service at my local Social Security Office and the problem was solved to my satisfaction within a reasonable time. I believe that getting another entity involved will just create another bottleneck in the administration of this most vital program.
I am against the idea of privatizing social security. Social Security was set up as a safety net for the elderly. It is supposed to be about people, not about profit, and the private sector is all about profit. The two ideas clash, and if social security is taken over by a private industry then our poverty, and health care issues will severely increase, especially considering that our elderly population is skyrocketing.
Social security is one of the best social programs that the United States has ever developed. It is one of the things that Americans can rely and depend on, as they get older. They have comfort knowing that they can work for years, and that the work they are doing will be rewarded to help provide for them when they are older and unable to work. The idea of privatizing this system is not a good one, and will only serve to help the private companies profit. It will be a detriment to the Americans who depend on that income, when they become older or disabled. Privatizing social security would mean that it is no longer a guaranteed system that Americans can depend on. Instead, it would be more like a pension program, and many pension programs have ended because private companies have found them too costly. It is not worth the risk of such an important program ending or being downsized. It should remain a public program that is backed by the United States government, not at the whim of the profit and losses of private companies.