ExiledInIllinois Posted September 19, 2008 Share Posted September 19, 2008 ...If it had been privatized... Think the guy in the 5 million dollar boat cares? ?? Link to comment Share on other sites More sharing options...
John Adams Posted September 19, 2008 Share Posted September 19, 2008 ...If it had been privatized... Think the guy in the 5 million dollar boat cares? ?? If you invested SS in the Dow, you'd be up for the week. Just sayin'. Link to comment Share on other sites More sharing options...
RLflutie7 Posted September 19, 2008 Share Posted September 19, 2008 ...If it had been privatized... Think the guy in the 5 million dollar boat cares? ?? It's trillions of dollars in relief and now on CNBC their saying "money market mutual funds" are also going to get relief. I don't understand much of this, but don't a majority of Americans hold mutual fund accounts? So in other words, we are bailing out ourselves? Poor people bailing out the rich, i.e. those that don't have a mutual fund are propping up the investments of others that do. I'm not liking this. If you have an investment that means money is put at risk. It's clear, the leadership in this country doens't want their wealth wiped out and they'll do anything to protect it. It's just wrong. We are not communist. Link to comment Share on other sites More sharing options...
PastaJoe Posted September 19, 2008 Share Posted September 19, 2008 So in other words, we are bailing out ourselves? Poor people bailing out the rich, i.e. those that don't have a mutual fund are propping up the investments of others that do. Actually our kids and grandkids are bailing us out. Since we're already in deficit spending, any further spending like the $1 billion we're giving to rebuild the country of Georgia, we have to borrow from the Chinese and any other country who wants to make us further indebted to them. Link to comment Share on other sites More sharing options...
StupidNation Posted September 19, 2008 Share Posted September 19, 2008 If SS was privatized people could do whatever the hell they wanted with it. Who said they had to invest in Wall Street? Last time I checked there is no social security program for people 40 years and younger when it comes retirement age, and probably older than 40 it's going to be massively destructive. Let's do probabilities for Exiled since it may be difficult: -Pay in a lifetime and for most get nothing, and those that do will be destroyed by ravishing inflation or -Keep my money and let me screw it up rather than know the gov't will Seems like a hard decision... I mean what if I invested in ETFs of oil, I mean wouldn't the guy in the 5 million boat like company with my boat with the profits I made from intelligent decision making? Socialism doesn't work as more people will figure out they don't have to work and destroy the monetary policy and the country. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted September 19, 2008 Share Posted September 19, 2008 One thing that would have happened would be Democratic a-holes like me would be telling anyone that would listen that Republicans had ruined their life savings and they were going to die cold, bitter and hungry! he he Link to comment Share on other sites More sharing options...
RLflutie7 Posted September 19, 2008 Share Posted September 19, 2008 Actually our kids and grandkids are bailing us out. Since we're already in deficit spending, any further spending like the $1 billion we're giving to rebuild the country of Georgia, we have to borrow from the Chinese and any other country who wants to make us further indebted to them. Yep, just slap it on the credit card and let the kids and grandkids pay for it all, meanwhile grandpa and grandma live the "high life". Link to comment Share on other sites More sharing options...
Tux of Borg Posted September 19, 2008 Share Posted September 19, 2008 I can't wait for the day when illegal aliens become eligible for social security. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted September 19, 2008 Share Posted September 19, 2008 I can't wait for the day when illegal aliens become eligible for social security. After McCain gives them amnesty hey will be elidgeble Link to comment Share on other sites More sharing options...
East Brady Posted September 19, 2008 Share Posted September 19, 2008 If you would like to read the text of the liars presser this morning here is the link. http://www.politico.com/news/stories/0908/13603_Page2.html Welcome to AMERICAN FASCISM, I hope you all are fat and happy with the swine that you have repeatedly elected to run the show in Washington. That includes both parties!! Have a nice week end Go Bills!!!! Rest comfortably, the FED claim's to have an infinite balance sheet, if you can believe that. Link to comment Share on other sites More sharing options...
finknottle Posted September 19, 2008 Share Posted September 19, 2008 ...If it had been privatized... Think the guy in the 5 million dollar boat cares? ?? For most people, if it had been privatized years ago they would be up. SS takes the money you put in and assigns an interest rate for you, determined by the total amount. If you are maxing out, I think the return is just on the negative side of zero. For most, it's 1-3%. If you contributed almost nothing and were always below the poverty line, it's like 4-6% [it's been awhile since I've seen the numbers, they are hard to find, but I think that's about right]. If the market averages 5% most years (a conservative estimate) and has a big 25% crash right after you retire, you still win. Link to comment Share on other sites More sharing options...
JimBob2232 Posted September 19, 2008 Share Posted September 19, 2008 Hell..if social security was privatized, and all your money was placed in a checking account and not invested and earned ZERO rate of return, it would be better than the system we currently have in place. I cant believe the american people stand for a system that actually earns a NEGATIVE rate of return! Ask yourself this...if for every dollar you put into your IRA you got 95 cents back when you retired, how much money would you dump into your IRA? Link to comment Share on other sites More sharing options...
bills_fan Posted September 19, 2008 Share Posted September 19, 2008 If you would like to read the text of the liars presser this morning here is the link. http://www.politico.com/news/stories/0908/13603_Page2.html Welcome to AMERICAN FASCISM, I hope you all are fat and happy with the swine that you have repeatedly elected to run the show in Washington. That includes both parties!! Have a nice week end Go Bills!!!! Rest comfortably, the FED claim's to have an infinite balance sheet, if you can believe that. The Fed has a balance sheet of about $880 billion. It is not infinite. Treasury on the other hand... Link to comment Share on other sites More sharing options...
/dev/null Posted September 19, 2008 Share Posted September 19, 2008 The Fed has a balance sheet of about $880 billion. It is not infinite. Treasury on the other hand... And Social Security, well I all have to say about that is...2017 and 2041 Link to comment Share on other sites More sharing options...
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