What if the Government gave me the choice to opt out of socialist security and let me make my own investment?
Question:
Answer:
What, and deprive them of the interest they are no doubt earning from your contribution? Say it can't happen!
I doubt anyone under 55 would stay in Social "?Security?" Government can't afford to let you out.
For thoughs that don't know the ONLY item Social Security can invest in is Government DEBT.
Well congress has opted out of social security.. They dont pay into it.
Also in some specific places or jobs there has been opt out programs running and they are successful.
I dont think that its really that your too stupid... its that they wont have your money to borrow from and spend if you opt out.
Sadly, there is a strong possibility you would end up like so many other Americans who keep meaning to start saving for retirement , but never quite get the discipline to save enough, if any. Or they spend funds from their savings to bring gratification here & now w disregard for the future.
I've seen it over & over in my career.
You would be losing your shirt and retirement right now! Right before your eyes!
How's that ARM going?
I would sigh off in a cocaine hart beat. Truth be known the spend the money faster then it comes in !
the dems know how terrible the system is but they know that an abandonment of it would show a weakening of their agenda of a nanny state. as of today the return on investment is LESS than an everyday savings account. there is not one dem that would invest in something with that low of a return. and anybody that would push for something that they wouldnt get involved with has an agenda
The spendthrifts of the country would complain that you had a retirement and they didn't; therefore they are entitled to your money. Really some people should not be allowed to make decisions (or even reproduce) but they vote anyway, usually for someone that promises to take care of them and make their decisions for them. Social Security was, is, and always be a ripoff of competent people by the incompetent.
You can opt out - of collecting benefits if you want but you can't opt out of paying the tax.
And, yes, the government KNOWS that the American working public wouldn't invest this money..we would spend it. We are a nation of live now and worry later with the biggest credit card debt in history, the least in savings and investments.
Also, keep in mind that your current SocSec taxes aren't being put in some account in your name but rather goes to pay the current benefits of the retired.when you retire, the working public will pay taxes to fund yours.
All funds go into a huge "bucket" and money is withdrawn from that bucket to get the checks out..
More Questions & Answers...