This is an assumption on your part. I never said that. So next year is OK? Or the year after? Tell me why it would be better then.
Because it gives us sufficient time to think things through with no rush.
My primary objection to what has been proposed is that it merely shifts money around. It costs $2 Trillion to implement. Have you considered that the problem with the current system is that it can't handle the TEMPORARY bulge of baby boomers. SS currently costs $500 Billion a year for the ENTIRE PROGRAM. $2 Trillion would pay for the ENTIRE SS system for 4 YEARS! Is something that costs that much really the best solution? In addition, the private accounts in the proposed plan would themselves cost administrative and other fees which nothing I've seen thus far would limit - I'm not sure this is in my best interests. It also presents a possible disruption of the markets as money flows from the government (or from us, however you prefer to view it) into the private sector, much of it into the stock market.
Are you tired of the economic problems caused by the .com bubble yet? Want to create a new one? Have you considered how the inflow and outflow of retirement money in the stock market might impact the economy? We're already seeing this today, without ANY SS money in the market, and with the mass of baby boomers not yet retired. To say that giving business a chunk of money via stock valuation will automatically improve the economy is preposterous - anyone who looks at inventory backlog in an economic downturn realizes this. Not to mention Enron - remember them?
I prefer to think these things through in detail. I WILL NOT sign on to any plan NOW just because someone tells me to, including the President. Nor will I give the government the power to ram this through without much closer inspection.
You take liberal newspaper numbers and accept them as correct. Amazing considering that you trust no one.
You talked about having 40 yrs before we had to address this, so I didn't assume anything. Then you say you would settle for a few more years. The initiative should be soon or it will be lost. A lame duck President and maybe a Democrat in office next time, it could be never.
And many if not most of what I said they will do will be enacted. With or without you on board.
I'm sorry that you are afraid that people investing in the market will lead to bad things happening, it shows a fundamental misunderstand of markets. Not to mention the current proposal being bashed around will be capped out at $1000 bucks per young investor per year. That won't be causing any "irrational exuberance".
I prefer to think these things through in detail.
I merely suggest you, and the rest of the citizens begin now rather than some magical time down the line.
Some of us have been working on it seriously for 20 plus years. Way ahead of the curve.
I say again, Changes will happen with or without you, you can possibly make a difference now, later you will be irrelevant. It will already have happened.
The only question is whether you will get the Dems version, where the government gets to keep your money, or the freedom version, where you own your own assets and can pass them along to your heirs.
Have fun watching from the sidelines.