Quote:
Originally Posted by MTK
I think privatizing Social Security would be a bad idea. Too many people out there live paycheck to paycheck with little to no savings as it is so the thought of putting them in charge of their Social Security is a little scary to me.
Social Security isn’t meant to be your one and only source of income when you retire, but for many people it is. I think it’s important to keep it secure.
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You could give them an option to stick with the existing program or privatize it and move to investment vehicles of their choice.
This way, if somebody wants to keep it safe in T Bills, they can leave it where it is. Or, if the person takes no action at all, it stays where it is. Meanwhile the rest of us who actually understand how money works can be afforded the opportunity to grow our nest eggs.
I mean if we all paid into it, we should all have choices. Is it our money or not?