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social security

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wingman:
Can anyone tell me why they think the administrations plan for reforming
ss will work. I just don't see it, my cynical mind tells me there is big money to be made for large corporations on this plan. There will be bucks
(taxpayer) spent on getting this done and 30 years from now it will be less
money for the retired working poor.

Wingshooter:
All I know is that I would love to be able to invest my money however I wanted to.  That would be additional money I could contribute to my 403b fund.  I know how much social security will give me when I retire, and it's a pittance of what I could get if I could invest this money on my own.

johnster999:
The key is will it truly provide personal ownership in the plan, rather than the pay-as-we-go system we live with today.

IF the plan can provide true personal ownership, it will be a very good thing for younger workers as well as their decendants who will inherit some of their money from generation to generation.

It's a big "if". Time will tell.

Unisaw:
wingman,

So buy stock in the large corporations that are going to profit from the switch.  

The current system is so flawed given the demographics of the US that almost anything would be an improvement.

nico:
I have a question for you, wingman.  Do you think the current Social Security system can work indefinitely even with the top heavy population we're developing?  If not, what would be a better solution to the inherently flawed system we currently have than to allow people to start partially opting out of it?  
From what I've heard about it, I think Bush's plan is a step in the right direction.  I don't know how you could do it without seriously ripping off a lot of people, but I'd be perfectly happy if social security became nothing more than a requirement that people set aside a certain amount of their income in a retirement fund of some sort (completely getting rid of it would be even better, but I can't see that happening after the government dependence that SS has created).

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