Yes, I agree with your sentiments. You are very smart, and you know how to invest and how to attend to your investments, so you ensure your money is working for you, not for anyone else. And I agree it is very irresponsible to leave one's investments to a so-called-expert salesman. But not everyone is as astute or as intelligent as you are, and so it seems to me that this must be considered when discussing reforms. Some people will invest badly because they are incapable of doing better. And so--how much will it cost to care for these people?
It is my understanding that both the amount and the investment vehicles that people can choose from will be restricted and controled. I am sure that only "safe" investments will be allowed. Plus it cannot be stressed enough that people will actually own their investments much as you do a 401k now. That is a huge incentive to opt into the system.
Here is the problem. The polititions are gonna have to do something as in a few years about 40% of us will be supporting 60%-the baby boomers are about to retire en mass! AND SS is bankrupt. Thats right its BANKRUPT. By 2010 it will be about 12 trillion in debt. Why? Because its been robbed of all its assets by the congress and presidents. Ask them how much actual cash is on hand in the SS account..not the balance on paper but actual reserves of money. The answer is, there is nothing there. So by 2010 a very safe bet will be that this government will be in excess of 20 trillion in debt with SS included, 40% of the population will have to burden themselves with 60% AND pay off the national debt. AND they want a national health care to boot? Wont happen, because this government will collapse financially...OR, they will have to triple the income tax, raise the retirment age to 70 plus, reduce SS benefits by over one half and cut the budget over the board by at least 60% Just to keep this government afloat.
OR go to a NRST within the next 2 years in which they only spend next year what they take in this year. I never favored a Nation Retail Sales Tax till I got to thinking. It taxes everyone..illegal immigrants, visitors to this country, rich, welfare people and it taxes imports sold inot this country. But I DO NOT FAVOR mixing the national retirment account (Social Security) into it. Why? Because the lying thieving politions will continue robbing it like they are now. And tax ONLY goods..NOT services. What the heck? Tax services and you'll have them taxing medical and everything...of course thats what they want isnt it? MONEY! MO MONEY MO MONEY MO MONEY is the polititions battle cry.