Poll: Privatizing Social Security Still Good idea

FOXNEWS ^ | Thursday, August 15, 2002 | By Radley Balko

[JohnHuang2]

Investors have yet to fully count their losses, and the corpses of fallen giants like Enron, WorldCom and GlobalCrossing have yet to cool.

But already, opponents of private Social Security accounts are circling the carnage, looking for politically potent carrion.

[JohnHuang2]

Thursday, August 15, 2002

Quote of the Day by Jhoffa

[Consort]

Yes, Social Security should go private and the Underground Economy should go public. I'm calling my broker.

[jackbill]

Once again, the Republicans assume the fetal position - even when the public is on their side. They should be out there every day, pushing for it. It's a winning issue, if the stupid Republicans just used common sense.

The report of the President's commission is available at the White House web site. If you read the report, you find that the commission recommended limiting the investments to basically the same as used in the government's Thrift Savings Plan - their 401-k. These are government bonds, bond index funds and stock index funds.

When the DemocRATs talk about the risk of "investing in the stock market" they should be asked "Have you stopped contributing to your Thrift Savings account?"

What will it take to have a Republican have the guts to ask this question of Gebhardt and Dasshole???

[Puppage]

What will it take to have a Republican have the guts to ask this question of Gebhardt and Dasshole???

I have been asking that same question for years.

[Free the USA]

Index Bump

[weikel]

I have to ask myself more and more lately are the tinfoilers right or are the Republicans just stupid? If fighting socialism in some way is a winning issue the Repubs should do it so either they are stupid or the tinfoilers are right and they're all part of some big evil cabal.

[Hostage]

My sentiments as well. The notion of privatizing Social Security is really about permitting employees to choose where to put A VERY SMALL percentage ~4% of their FICA tax into investment securities.

A Social Security system which is 96% mandated and 4% restricted choice is hardly private.

And the choices could be safe as well. For example, an average employee could accumulate enough over several years to purchase a $1000 bank CD. Such cautionary choices would return I think far more than the current SS scheme.

[jackbill]

My sentiments as well. The notion of privatizing Social Security is really about permitting employees to choose where to put A VERY SMALL percentage ~4% of their FICA tax into investment securities.

A Social Security system which is 96% mandated and 4% restricted choice is hardly private.

Where did you get your numbers, from the DNC? I suggest that you go to:

http://www.csss.gov/reports/Final_report.pdf

and read the report of the President's Commission. They recommended three "Reform Plans".

The first would allow the personal investment of 2% of payroll, not 2% of the payroll tax.

The second would allow the personal investment of 4% of payroll, not 4% of the payroll tax, up to $1000 per year, indexed to inflation.

The third would allow the personal investment of 2.5% of payroll, not 2.5% of payroll tax, up to $1000, indexed to inflation, as long as the individual volunteered to contribute an additional 1% of payroll over and above the payroll tax. A refundable tax credit would cover the 1% for low income folks.

[WarrenC]

As frustrating as the cluelessness of GOP leaders is, this poll is really great news. Public approval for privatizing Social Security stays strong even in down times for the market -- giving Democratic candidates an opportunity to lock in their party's position on the wrong side of the issue. Here's hoping Republican leaders smell the coffee soon.

[WarrenC]

As frustrating as the cluelessness of GOP leaders is, this poll is really great news. Public approval for privatizing Social Security stays strong even in down times for the market -- giving Democratic candidates an opportunity to lock in their party's position on the wrong side of the issue. Here's hoping Republican leaders smell the coffee soon.