But privatizing SS is a non starter. It is still the most successful social program in history (American, if not world). Most Americans don't want to privatize SS. They don't want to be forced into playing the market against the big boys while their retirements are riding on the outcome.
4. I will tell you some reasons why privatizing Social Security is a bad idea
1. Investing in the Market...IS and HAS ALWAYS been a risk. People should invest, and have other savings but to invest all their money in the market is a stupid idea....especially monies they will need to live on in retirement.
2. People who invest poorly in the market will still need to be taken care of and so we will still have to take care of them....and therefore we will end up double screwed...
3. People don't save now...what makes you think that privatization will be a panacea when in reality, most people either don't make enough to save anything or they are foolishly squandering what they do have...
Social Security is a social contract to make sure that people will be taken care of to at least a minimal degree....destroy it and you will see what it was like before it was enacted.
If anything I think that Pensions were the big fluke...here most pensions (invested in that famous "market"...) have not made money and have been tapped by corporations or not funded....
I think Unions should avoid Pensions and talk about savings in addition to Social Security....even if it is just a lowly CD...
both of these things would enable for a smoother transition to a union, not having to centralize a income tax or a social security tax. Not a progressive step at all for the general public, but it smells like the plan to me.
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