I just wanted to know what you guys thought of the whole Social Security issue. I'm 21 and pretty pissed about the whole thing. What do you guys think about the issue of privatization of social security funds?

Greetings!

Privatization my sound good, but every time I have seen it in practice, you are merely exchanging one set of problems for another. Example: who is the group controlling the funds, what do they invest in, what kind of corruption will that cause?

I personally leave social security out of any retirement calculations I make. Even if there is something left by the time I would be collecting, I am certain it will not be in a form similar to what is seen today.

"who is the group controlling the funds"?

- I thought the investment was to be left in the hands of the individual -- not that it makes it much better.

Actually that does make it a little better. The way I understand it, is if left in my own hands, if I screw it up, im only screwing myself. Whereas if some other "group" looses money, they screw a large portion of the economy.

My girlfriend was the web designer for the Boston Police Dept. here in Mass., for about 2 years and the policy there was that city employees did not pay ANY Social Security.
There was still money deducted from her pay, but it went into a seperately managed fund with her name on it.
When she quit the city cut her a check for $7000. There were some minor penalties for early withdrawal, but she recieved the bulk of her contributions intact.
What bothered me the most was that this was a prime example of our government exempting itself from something that it imposes on the general public.
Grrrr.. still makes me angry.

I think Social Security is kind of dumb. The whole concept is "you're not smart enough to save your money on your own so we'll do it for you." I think everyone who paid it should recieve it, but the government isn't here for the purpose of taking our money by force and then repaying it later. I think a better solution would be to give the option to put in a government bond or something like that, or to invest it privately, or to just put in your pocket. But don't know if that would be possible since we have to pay for our parents' SS.

Get rid of it all together and let me keep my 7.5%. At the very least then I can give the money to someone if I die before retirement age instead of the rotten government wasting it.

I think Social Security is kind of dumb. The whole concept is "you're not smart enough to save your money on your own so we'll do it for you."

Unfortunately, for an overwhelmingly large percentage of the population, that's all too true. I know too many people living hand to mouth, paycheck to paycheck, and they aren't derelict bums, either. Whether they were never taught to save money, think they don't need to, or whatever, I don't know.

I think everyone who paid it should recieve it

This, I'm in full agreement of... I'd just add "with compound interest".

yeah a couple things piss me off about it. One, the fact that i'm obviously screwed it looks like. And two, now i might be wrong about this, but i assume this is how it works -- rich, retired old people are still gonna be getting checks. Does a 68 year old millionaire still get checks? I realize that the bastard did pay into it, but [censored] man. I understand how for your average, elderly joe blow, the checks will be totally helpful, but for Clarence B. Witherbody whose sitting on a nice little sum, he'll probably be ok without. stoner thoughts.

that attitude is why the best soultion is to get rid of the system all together. that will probably be the nest scheme to make social security solvent. they will say if you made over so much a year you don't get your money back.

That's even more screwed up - taking your money and not giving it back. Fuck socialism.