There's no guarantee that investments will do well in the future, but it's likely they will. I have paid substantial amounts into social security all my life and will get very little back. I paid comparable amounts into TIAA-CREF, and I will get back ten or maybe twenty times the return (if I sat down and did the numbers I could be more exact). But it doesn't take a rocket scientist to see that social security is a lousy deal for everyone but the minimal recipients who barely paid in enough to qualify.
Rush made such a stunningly crystal clear presentation of exactly what privatization is, on his show today, that I couldn't help wonder why President Bush can't lay it out in the same way. When you hear such a clear presentation, there is no contest. In fact, you want to jettison the entire gov't run S.S. and start putting the whole 12% into privately controlled investment accounts, not a mere 4%!!
Thanks for your comments, Cicero.
Char :)