Discuss here. I use to be for it until I heard Mike Malloy make the point about it not just being there for retirement but should you die your son or daughter would receive some of your benefits to help support themselves. He implied this isn't suppose to be an investment thing.
Also after hearing more about this while I was initially for it I'm starting to like it even less. Some of the great things I THOUGHT would be implemented in it aren't. For example I have no problem with the money in the private accounts being used on a Mutual Fund type thing but I want to pick WHATEVER stock I want as part of my setup. I've heard about having to pick from a table of stocks. No, no, NO! This is exactly what I said I didn't want to see, Republicans using Social Security as a kickback to companies that fund them. This is absolutely unacceptable. At least if you're going to have stocks let people pick those they want or feel comfortable with. Also since it's the stock market there should be an extra 1-2% or more to cover people who have some of their stock PLUMMET and it doesn't recover adequately near retirement age. This insurance should cover this shortfall.
If you say no to this last bit then frankly I think you have no legs to stand on in terms of touting private accounts especially when you consider the enormous cost it will take to transition the system over to these accounts. Honestly if this doesn't work or if we want a more cost effective or more gain happy version of Social Security why not do what Alan Greenspan suggest and copy the "Thrift Savings Plan" that Federal employees use. I mean Bob Brinker advocated for it for GODSAKES.
Also after hearing more about this while I was initially for it I'm starting to like it even less. Some of the great things I THOUGHT would be implemented in it aren't. For example I have no problem with the money in the private accounts being used on a Mutual Fund type thing but I want to pick WHATEVER stock I want as part of my setup. I've heard about having to pick from a table of stocks. No, no, NO! This is exactly what I said I didn't want to see, Republicans using Social Security as a kickback to companies that fund them. This is absolutely unacceptable. At least if you're going to have stocks let people pick those they want or feel comfortable with. Also since it's the stock market there should be an extra 1-2% or more to cover people who have some of their stock PLUMMET and it doesn't recover adequately near retirement age. This insurance should cover this shortfall.
If you say no to this last bit then frankly I think you have no legs to stand on in terms of touting private accounts especially when you consider the enormous cost it will take to transition the system over to these accounts. Honestly if this doesn't work or if we want a more cost effective or more gain happy version of Social Security why not do what Alan Greenspan suggest and copy the "Thrift Savings Plan" that Federal employees use. I mean Bob Brinker advocated for it for GODSAKES.