Plan Could Cut Social Security for Young Workers

Newsmax.com; AP ^ | January 4, 2005 | AP; Newsmax

[mpreston]

Ummm...someone needs to invest in a calculator.

I agree. Considering that SS is broke I would say this looks like a $1099 INCREASE for future SS recipients.

[Rakkasan1]

Pelosi denies murdering millionaire during intense cross-examination
http://courttv.com/trials/pelosi/120804_ctv.html

but she could murder our hopes of ever seeing real reform.

[Texas2step]

I'd let them keep all of mine to date if they'd let me out now...

Ditto that. I'd gladly turn over every cent "invested" in my SS account for the past 20+ years if we could go to private accounts. In a heart beat. I'd come out ahead, too. Way ahead.

[Rakkasan1]

"I'd gladly turn over every cent "invested" in my SS account for the past 20+ years if we could go to private accounts. In a heart beat. I'd come out ahead, too. Way ahead."

but you'd lose out on that huge 3% return on your confiscated, I mean contribution.

[alnick]

remake the system to let younger workers divert some of their payroll taxes into personal investment accounts.

I wonder what the definition is "young" is here. I'm 46. I hope I'll be able to invest some of my SS into a private account.

[ThinkDifferent]

Even Ponzi didn't MAKE people pay in at the point of a gun.

That is an excellent point, I'm going to have to stop calling it a Ponzi scheme. "Extortion racket" would be more accurate.

[KoRn]

Well I'm not disappointed, considering I don't think there should be any such program Social Security in the first place....please just stop taking my money away from me!!!!

[LibertarianInExile]

Thanks--I'll try not to let it be the last one. :)

[LibertarianInExile]

Cash the government can't touch right now will always be alluring to Rats in the future.

Consider stashing some in the smaller non-EU banking capitals like Zurich and Lichtenstein, after the egg gets big enough. That is NOT a suggestion I'm making with my tinfoil undies on--just one that makes sense given the rats' proclivities for screwing seniors with any money. I'm not saying go buy gold or platinum, or bury your dough under a rock. I would just consider the government's switcheroos in the past and cover yourself.

[t_skoz]

CATO Institute - The 6.2 Percent Solution: A Plan for Reforming Social Security

[mvpel]

Whole life insurance policies accrue value tax-free, and can be drawn down tax-free, but you're right, I wouldn't count on that staying that way fifty years from now if the Democrat party survives that long.