What exactly is privatizing social security?

Question

What exactly is privatizing social security?

Answer 1

Putting  some into your hands instead of the Governments.  I think the way it is now, you get 80% of what you put in, instead of being able to put it into your own investments where it will grow instead of shrink

Most people think that the Gov't has all your money sitting around in a bank someplace with your name on it and that isn't the case.

Answer 2

It takes all or a portion of SS deductions away from the current system, and places those funds in an account only for you. This generally favors those with higher income over lower income, although the exact details of the plan would determine this.

One thing for certain, it weakens the current incoming pool of money, so the existing problem with SS is actually made worse.

Answer 3

Allowing you to gamble it on the stock market. Social Security is a insurance policy, it is suppose to be boring not a investment. It was designed to stop soup lines if we have another Republican great depression.  

Answer 4

Handing the big ponzi scheme to Wall Street to administer.  And they'll do just as good of a job administering it, as they did with the adjustable rate mortgages.  

Remember these are the same people that brought you Enron, World Com, and Arthur Anderson and are notorious for cooking the books.

Answer 5

Its where you get to control how SOME (not all) of your SS money is invested.

Answer 6

All SS funds are placed into an account that the government invests.  Privatizing it would give you control over a percentage of your deposits, and you could invest them as you saw fit.

Answer 7

The funds would be put into the hands of a broker, or bank like institution, or other government favorite, and handled by that business. It could end up in the hands of a foreign group and you would have to press #2 for ingleesh.then speak to someone who can't pronounce your name.Do you want a foreign country to manage your american finances? The democrates may accomplish just that.

Answer 8

This is the way government moves an expensive bureaucracy form the public pay role andDevidess the cost of private bureaucracy to the people on social Security. The government says we cut cost and the poor get an unseen tax whilee the wealthy benefit. It is the mentality of big business and the wealthy lobbiess.

It is taking a promice to retired, handicaped, poor, and others that qualify and treating it like an HMO and every one in big business knows they have never taken a loss.