The Squamata Report: Privatizing Social Security is crucial for America's youth

Monday, March 07, 2005

Privatizing Social Security is crucial for America's youth


Partially privatizing Social Security will promote affluence in America's future generations!
Let me clear some things up about the proposal to add the 'option' of private accounts. It is the opposition's assertion that privatization would lead to poor people getting the shaft. This is reliant upon your ability to believe the lie that this would kill Social Security and that the private accounts would be unwisely invested by poor people who would lose their investments and die in the gutter.
First of all, we cannot make plans for the future of our children based on the irrational and careless actions of a few. Furthermore, there will be restrictions on the early withdrawl of these funds.
The private accounts are OPTIONAL ! The privatization would boost the economy by adding millions of new investors. The shot in the arm it so desperately needs. The Federal Government would be required to pay out less benefits and therefore slow the bleeding in the general fund. If we want this program to be available to our next generation we must fight to keep it afloat. I assure you this is our President's intention.

Democrats lie when they say Social Security would suffer under private accounts!
In the 70's and 80s, the Democrats used what was then an old play from their propaganda play book. They warned the elderly that the Republicans wanted to take away their Social Security. This is a surprisingly effective lie. Surprising because all these years we have heard about how the evil Republicans would have old people eating dog food becouse they would steal Social Security. Yet, a good 35+ years have passed and I still see SS checks in the mail man's stack. Somebody is still getting their checks!
A while ago, Dick Gephardt made the claim that his mother relied on Social Security as her main source of income. He said that privatization of Social Security would kill her. First of all Mr."Dick", my question is why your mother relies on Social Security when you bring in enough dough to support her and allow that money (tax payer's money) to go back into the ailing general fund?
Who relies on Social Security benefits the most?
Do you think these rich politicians on the left are hoping to have ss checks to sustain them in their retirements? No, it is the poorest among us who will suffer with meager Social Security checks as their only retirement income. The rich invest in the S&P and 401k plans and enjoy great returns on them when they retire.
How many people do you know, who make $30,000 or less annually, that own stocks and invest in mutual funds? Do you know any? I didn't think so. Those people rely on Social Security the most. If you pay in $300 a month to Social Security, a VERY high rate, you will see a return of that investment at the rate of $1,800 a month when you qualify. If you took that $300 and invested it in a Standard and Poor's 500 Mutual fund for 40 years, you would earn over $2million, and could safely live on a comfortable $20,000 per month! Now why deny young people the opportunities to earn 10% on their investment when they likely will have no other opportunity. We were not blessed with such a great plan, why would we deny our kids and grandkids this blessing? Those who are over 50 will not even see a change in their programs. They who oppose, are buying into the scare tactics of the left?
Social Security will not survive in it's current state. The Dems deny it is an issue. However, Clinton, Gore and many other Dems said that the plan is in danger just 5 short years ago. They are politicizing the issue and changing their stance when it is politically expedient to do so. That is outrageous! We as their employers must demand that this plan be ratified.
No, the privatization will not fix Social Security completely. It will however, add a safety net to our young people and better provide for their security when we can't be there to help.
What are your thoughts? Please share by clicking on the link below.
o Do you think that Social Security will be comments are welcome.
Ken

Read:Strengthening Social Security for the 21st Century


Read also: Walter E. William's article from 1997:

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