Because the $2.5 trillion dollars in Treasury Bills that are in the trust fund will have to be paid back through taxation of the rich.
If the Treasury Bills magically go away by privatizing the system, the $2.5 trillion dollars won't have to be paid back by taxation of the rich.
If Social Security is "fixed" - by raising the cap on income that is taxed or if taxes are raised on the rich to cover the debt in the trust fund - that means Wall Street won't get it's bonus money off of the top, the Dow won't skyrocket to 20,000, and the rich won't be able to purchase that 12th home in Tahiti...
What are you people? Capitalists or communists?
Comments
Oh...name-calling huh? Communist huh? You sound like a Nazi to me. Privatizing Social Security is the stupidest, most vomitous, blood-sucking idea ever put on the table.
Go move to Europe if you don't like our American system.
Social Security is , in fact, a Ponzi scheme and will one day become insolvent. That's the facts boys and girls. Massive immagration will only slow the inevitable.
When your utopia is finally acheived, and "the rich" (meaning richer than you , like Thom Hartman) are penniless , and all you empowerment fantasies have played out, where do you plan on working? For the Govenment that has no tax base to raise revenue? Maybe you can hunt unicorns for their delicious, caramel flavoured meat.
If someone actually did the work and went to college and majored in mathematics and then took specialized tests in actuarial science and became an actuary, then maybe I would be willing to listen to what someone had to say on this. Also, there are those who have no expertise in geriatrics or disability but talk about applicable programs with no regard for society and for people. Antagonsim has become a part of American culture.
Social Security has been and continues to be a reliable program. A co-worker of mine has given up on the stock market and 401K plans invested in stock mutual funds as being too instable, unpredictable, and too unsafe.
Both private industry and government sometimes need to make certain adjustments. That is called management or administration, and it is to be expected.
Wow...a co-worker of yours? OK I'll follow him, he has to be right, since he's a co-worker of yours.
If someone actually did the work and went to college and majored in mathematics and then took specialized tests in actuarial science and became an actuary, then maybe I would be willing to listen to what someone had to say on this. Also, there are those who have no expertise in geriatrics or disability but talk about applicable programs with no regard for society and for people. Antagonsim has become a part of American culture.
Social Security has been and continues to be a reliable program. A co-worker of mine has given up on the stock market and 401K plans invested in stock mutual funds as being too instable, unpredictable, and too unsafe.
Both private industry and government sometimes need to make certain adjustments. That is called management or administration, and it is to be expected.
Of course Soc. Seucurity will be privatized.The members Obama appointed to his Deficit Reduction Commission are for that....or for dismantling it completely. Obama can wring his hands and say, "I'm sorry, but we have to get rid of Soc. Security to save the nation."...as he once again increases the military budget..
The Wall street crooks are looking forward to the bonanza....all the money plowed into financial paper and the commissions associated with it are a wet dream come true. Billion dollar bonses will become multi-billion dollar bonuses.
The administrative costs passed along for the private accounts will be a boon. to finance...and a burden on the future retiree.
If they don't plow your money into derivatives they know will fail, so they can have something to bet against and make a bundle, ...you'll do just fine.
Mafia Capitalism.. neo-liberalism and the Corporate State pushed by both parties. . Gotta love it, I suppose. Not many alternatives these days.. Maybe Bolivia.
Retired Monk - "Ideology is a disease"..
The party of Yes needs to get out the vote, big time once more.
It will reduce the chance of vote machine tabulation fraud and give the Sheriff a chance to finish rounding up the rustlers, who clearly want to see their brand on what's left of our hard-earned herd.
A clear, decisive November should greatly dampen all the fatcat divisive issue crap and give the regulators a chance to bring the banksters and wall-to-wall-marts back from playland to reality.
Well, that would take replacing current Dem incumbants...who sought and obtained financial interest input before they wrote a Financial Reform Bill that isn't.
Hedges: "We've experienced a slow-moving coup. It's accomplished. They won. We lost."
The Corporate State is a fait accompli .
http://www.ustream.tv/recorded/9217110#utm_campaigne=synclickback&source=http://www.truthdig.com/avbooth/item/chris_hedges_on_moral_courage_20100901/&medium=9217110
Members of Obama's Defcit Reduction Commision favor ditching Soc. Security. If Obama wasn't in favor of that himself, he should have appointed someone else.. He says one thing...does another. Congress will have an up or down vote on their recommendations to "save the nation."
The President of Wall Street and Transnationals is just doing what he was elected to do. He's serving his constituency. That's how he got past the vetting process and received media coverge. from the 6 corporations that control nearly every thing you read, see or hear...while candidates for the people like Kucinich were thrown under the bus. Out of sight, out of mind.
Obama's campaign was named the most successful marketing campaign of the year...ahead of Apple. "Brand Obama" found a lot of buyers....sold as all things to all people..
Wolin {Princeton Univ.} calls it "managed democracy". An illusion.
At some point, the Dem Party has to be taken back from the corporatocracy..
Retired Monk - "Ideology is a disease'
.
If someone actually did the work and went to college and majored in mathematics and then took specialized tests in actuarial science and became an actuary, then maybe I would be willing to listen to what someone had to say on this. Also, there are those who have no expertise in geriatrics or disability but talk about applicable programs with no regard for society and for people. Antagonsim has become a part of American culture.
Thinking for yourself is too difficult. It's ok.
Social Security is , in fact, a Ponzi scheme and will one day become insolvent. That's the facts boys and girls. Massive immagration will only slow the inevitable.
When your utopia is finally acheived, and "the rich" (meaning richer than you , like Thom Hartman) are penniless , and all you empowerment fantasies have played out, where do you plan on working? For the Govenment that has no tax base to raise revenue? Maybe you can hunt unicorns for their delicious, caramel flavoured meat.
This! Definitely this.
The Right wingers are really a hoot. Social Security is a social insurance system funded by those who benefit from the security and the benefits paid to family members they would otherwise support--or neglect--where our collective resources smooth out the bumps individuals can experience. It is about averaging out the risks and benefits to serve as many as possible as well as we can.
If the war spenders would pay back what they have stolen from Social Security or insure that the T Bonds are as good as money, there would be no "crisis" in funding or projection of benefits. If we raised the cap on contributions so the wealthy could "give back" to the community, Social Security funding would not be a quibble.
When we compare our meager and stingy "charity" and how we mischaracterize the nature of unemployment insurance and Social Security funding with functional Social Democracies, what we see is an inability to calculate bottom lines. The ideological entrancement of Neocon nostalgia for the American Century is passionately intense. We need to have the courage of our convictions to stand against its winds. We have to regain our confidence in the ground as well as the ability to see a vision.
graph of treasury bill returns.
T-bills are currently returning over 3%.
Even as they began falling (post Reagan) T-bills were a much more stable place to put your money than the stock market.
But I suspect that was the problem. We cann't have the governments securities being better than the "free market" now can we?
http://mortgage-x.com/general/indexes/t-bill_index_faq.asp
We made social security sop the rich could save all their money and not pay pensions.
Business has a social cost to using people. They have to pay for the up keep and retirement of the workers that spent their lives making them so damn rich.
Stop giving SS away to illegals.
What a dumb statement. How on earth can a person who is not legally entitled to be in the USA claim Social Security?
I swear are you cons. ever insulted that your right wing media dumbs you down to such an extent that you believe anything.
Just as dumb as the illegals by law have no right to be here, or by law illegals have no right to a job.
Duhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh. Are you pro American, or do you just hate America
Why do we have to allow the rich to get away with grinding down our wages and forcing us to pay for their food, housing, medical, and education, and their social security???
Do you see how evil how bad this is for working Americans, and you are allowing the rich to use illegals to grind American wages down.
Illegals pay into Soc. Security at the workplace...and aren't allowed to collect it. Probably checking what's actually so before making statements would be the better way to go.
I don't know about other states, but in Colo. proof of citizenship or legal status has to be provided before such things as food stamps are provided..
Retired Monk - "Ideology is a disease"
Republican mantra.
Never confuse the issues with the facts!