Private Social Security Accounts Could Make Up For Lack of Savings
July 31st, 2007 by Xander ZebroseA recent article in the Boston Globe wrote that
Nearly one-third of baby boomers ages 51 to 61 are at risk of not having enough in savings to finance a comfortable retirement
One of the reasons people are having difficulty saving is because social security does not pay seniors enough to live on. If individuals could have private accounts they would get an actual return on their money and be able to afford a better retirement.
September 18th, 2007 at 11:41 am
What is the difference between a “private” social security account and a (voluntary) investment account? Is the former a payroll deduction similar to our standard government-enforced social secuity withholding? Otherwise all you are saying is that people should save for old age to supplement social secuity, which was the intent even when social security was originally proposed by FDR. The problem is what the government has done with the funds withheld from the employee and the employer, which have resulted in far less earnings growth than would have been accomplished under private investment.
September 18th, 2007 at 12:46 pm
If Social Security had been operated the way the founding politicians said it would be operated, and if the politicians had not taken trillions of dollars out of the fund and replaced them with I. O. U’s, there would be plenty of money in the fund for everybody.
September 18th, 2007 at 1:59 pm
Social security is the greatest ponzie scheme ever perpetrated. The politicos do not want to fix SS then they cannot steal money from it to pay for pork projects that keep them power. It’s time to take back our government.
February 4th, 2008 at 5:47 am
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