That $$$ would have benefited Wall Street initially-kinda ironic our money is still going to Wall Street…to prop them up….. yea sure Mccain saw the problems in Wall Street that is why he pushed for private accts…
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Private social security accounts- a neo-con scheme?
September 29th, 2008 · 6 Comments
Tags: Security
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6 responses so far ↓
1 the_libertyman // Sep 29, 2008
You know nothing of economics and investments.
Not EVERY stock on Wall Street is in peril. Not EVERY company is going under. Not EVERY investor is losing money.
The stock market goes up…. and down…. and up…. and down…. BUT OVER TIME, it trends UPWARDS. How much upwards? Higher and faster than ANY OTHER investment option in the world.
Bush’s plan to allow you to put a PORTION of your SSI “contribution” into your own account which you could use on SELECT investements was a GREAT idea.
No other plan would have allowed “the poor” a fair chance to invest the way “rich” people (aka middle class) people do. NO…. the Dems INSIST that “po folk” forever remain PO FOLK and stay on the plantation with their hands out waiting for the next Democrat handout (or talk thereof).
2 Dr. Phil // Sep 29, 2008
Personally I like the idea of being in charge of my own destiny. I don’t understand why so many people got all upset at the idea of allowing people to invest THEIR own MONEY in whatever way they deemed best for THEIR own interest.
Of course many Democrats hate the idea of private citizens having any say on their own behalf since a highly socialist agenda is being pursued with great vigor.
Fact is Social Security should be scrapped, it is a failed pyramid scheme and would be illegal if anybody other than the government had implemented it.
3 TAT // Sep 29, 2008
I have made 17% return on my investments over the last seven years. Social security has lost money. McCain tried to have the problem regulated and investigated but the Dems did not. They still do not want senate hearings bc they will be exposed.
4 hdean45 // Sep 29, 2008
In spite of what every one thinks the people who have money invested are not going broke. I still have my 401-k and I haven’t lost one cent of the money that I invested. The value of my holdings has dropped but I am still ahead of my inertial investment. All of us who are retired would not have missed a check.
5 andy // Sep 29, 2008
No, it is a way in the long term to gain more money than any other investment tool out there. I currently have 100% of my 401(k) in stocks and with the value that they are today I would not want to move my investments out. It is the uneducated in finance who get burned bad by Wall Street. They tend to wait until the last minute to invest when the stock prices are high and the first to withdrawal their money when stock prices are low.
Also, the current financial mess was caused by both parties and it is the Democrats that get most of the money that Fannie Mae and Freddie Mac has handed out.
6 Patchass // Sep 29, 2008
Some facts:
Since its creation the stock market has averaged almost 11% overall.
Social security is invested in government bonds at 3.5% since it’s creation.
Inflation usually runs around 4%.
I’ve made money in the stock market, just like everyone can if they learn how to diversify.
The argument against privatization is nonsensical.
And it’s not about filling the pockets of Wall Street, it’s about personal choice. Privatization would allow anyone who wants to to stay in the old system, invest in the old 3.5% yield bonds. But it would also give the people who realize that the government isn’t here to provide for us cradle to grave a chance to invest their own money that was taken from them by the government and have it actually grow, instead of being stagnant in a trust fund that’s raided by greedy politicians on both sides.
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