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Actually, private savings would make people more money and allow employers to not have to pay in any longer hence improving profitability per employee by 7.65%.

Put it this way, $2.5K a year for 45 years at 8% interest would leave you with $1 million in the bank. That's with no matching investment by an employer. Do a 50% match and you have $1.5 million. With that kind of coin a person making 6% on their money is pulling in $90K a year income (taxable of course, bastards) and need not touch principal.

When they die, they can will the balance to their kids, friends or charity. No money for welfare or benefits for illegals. That type of plan will mean plenty of people would leave their heirs on much better shape and they themselves would live a comfortable life instead of scraping by on SS cheese.

Sweet.

Actually, private savings would make people more money

I'm actually for taking the 7.65% paid in by the employer AND the 7.65% paid in by the employee and placing the money in private accounts phased in over a period of 32 years with much of the social security program being phased out during that time.

Put it this way, $2.5K a year for 45 years at 8% interest would leave you with $1 million in the bank.>>>>>>>>>>>>>

And what will that buy after 45 years of inflation which the government tries to hide by juggling the figures? I am only 61 years old and I remember when a person who had one tenth of that in the bank at any age would have thought that work was purely voluntary for them. A projected lifetime of earnings back then amounts to one good year now.