Posted on 07/25/2017 7:05:59 PM PDT by SeekAndFind
How Three Texas Counties Created Personal Social Security Accounts and Prospered
https://www.forbes.com/sites/merrillmatthews/2011/05/12/how-three-texas-counties-created-personal-social-security-accounts-and-prospered/#17f7dc613283
How Privatized Social Security Works in Galveston
http://www.nytimes.com/2011/09/18/us/how-privatized-social-security-works-in-galveston.html
The only way to save Social Security is to take it OUT of the hands / control of politicians.
Or congress could just undo all the changes they have made that hand out Social Security money to people other than those who worked and contributed to the fund.
It started out as a contributory retirement fund but over the years congress has raided it and treated it as a wefare slush fund to finance their “feel good” changes.
“The money would be placed in an investment account managed by a blue-ribbon panel of investment experts appointed by the president and Congress.”
Um, no. Can’t you just envision the members of this blue-ribbon panel appointed by DC politicians? Talk about putting the fox in charge of the hen house.
am i seeing this right ?
2015 there were 3,978,497 births times 35 times 7,000 = 974 trillion, before the first 7,000 per gets paid back ?
where does the 974 trillion come from ?
On the plus side I can file taxes in her name instead of against my income.
I don't think that works.
The problem is that money was involuntarily collected from me and millions of others with a promise that we would get benefits when we retired. Other people, already retired at the time, got my money.
Now that I am retired, I will fight you tooth and nail, to the bitter end, to get the government to keep up its end of the promise.
Stylin the buzz kill.
you had to go and get all logical on us, didn't you.
No, the $7,000 is a one-time contribution, not $7,000 per year. Makes it more manageable, but I agree with the posters who say that it's a recipe for disaster; graft and corruption abound.
I think the most likely way that it will be done is to get rid of the income cap on the social security tax and put a cap on the maximum allowable benefit under social security. I’m not saying it’s the best way, just the most likely to be politically possible.
In 2010 3,999,386 children were born in the US. So under this plan approximately 29 billion additional dollars would be put into the stock market every year. I’m not a financial guru but maybe some freeper here is and can comment on what kind of effect this would have on the stock market?
No, it was always mandatory and from the being the law stated that any surpluses from the social security tax had to be loaned to the federal government. If you don’t believe me you can find the social security act of 1935 posted online at various sites.
Actually it’s a tax and so it is constitutional under the 16th Amendment.
1. Raising the retirement age to 70. He sneaked that in.
2. Northing will keep Congress from tapping into that kind of money.
Eliminate a few federal departments.
You’re buying the supreme court lie is all. Constitutional government in the United States is based on enumerated powers. There are 30 enumerated powers in Article 1 Section 8. Transferring wealth from producers to voters is not one of them.
No. I’m following the constitution which can be changed by the Amendment process. The way our system is set up you could pass a constitutional amendment stating sharia is the supreme law of the land and sharia law would then be constitutional.
It would also be against the intentions of the founding fathers and I would fight with my life against such an amendment, but that is the way our constitution works.
i screwed up the math...it’s 976 billion.
so this could actually work...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.