For anyone who knows the details about Bush's SS plan...

Post by **tnf** » Wed Feb 23, 2005 1:28 am

When he talks about privatizing, are you totally free to invest in whatever companies you feel like?

Also, have people stopped to think which companies are really going to benefit from an influx of investment dollars? Could any of them be those that GB senior sits on the board of directors of? Or am I way off base here just caught up in some conspiracy theory...

Also, regarding the social insecurity calculator watson posted, funny thing I noticed was that the more you make, the less you lose in the Bush plan...

Post by **zeeko** » Wed Feb 23, 2005 1:31 am

but how could that be

Post by **FlamingTP** » Wed Feb 23, 2005 1:38 am

gee I wonder

Post by **Dukester** » Wed Feb 23, 2005 1:51 am

Social Security. We are paying now so people can receive benifits now. What is left over at the end of the year gets spent on something else and an IOU is deposited.

If you can invest your own money the way you want, it would be nice. As it is the federal government is not investing anything or in any kind of trust for Social Security its just a pay as you go plan, which is kinda stupid.

Post by **R00k** » Wed Feb 23, 2005 6:12 am

You are allowed to divert 6% of your payroll into a "private" account instead of social security, if you want to. At that point, your 6% belongs to the government to give to investors. They invest it the best they can to make a maximum profit, taking their service fees. You get the profit back, but not your 6%. If you win, you can win big. If you lose, you can lose all of it.

The firms, that the government picks to do the investing, will make hundreds of billions of dollars if everyone chooses to use personal accounts.

edit: that's just based on an article I read a couple of days ago. I don't think anyone is completely sure how it will work yet, because Bush still says any ideas are "on the table." Meaning, he doesn't have a clue, he just wants the money handled by private parties whom the government gets to pick.

Post by **Hannibal** » Wed Feb 23, 2005 6:52 am

His plan, as so far formed, is DOA. No idea what fucked up compromises might be worked out though.

Post by **R00k** » Wed Feb 23, 2005 2:35 pm

Even a lot of republicans are turning against it, especially since whispers of tax increases to fund it started popping up. It's going to be a hard sell, and I'm starting to have some hope that it won't pass.

Post by **blood.angel** » Wed Feb 23, 2005 5:22 pm

Chile and Argentina (I think) did the same thing and both failed big time leaving everyone apart from the companies and those tied to them poorer.

Post by **Massive Quasars** » Wed Feb 23, 2005 5:30 pm

Won't work.

Everyone who posts here likely has the time (years) and resources to prepare for their retirement if they are really intent on it. Don't bother with SS.

Post by **Dark Metal** » Wed Feb 23, 2005 5:42 pm

Gee for some reason when I saw GWB's name and SS in the same sentance I wasn't thinking that it was refering to Social Security...

Post by **R00k** » Wed Feb 23, 2005 5:46 pm

Dark Metal wrote:Gee for some reason when I saw GWB's name and SS in the same sentance I wasn't thinking that it was refering to Social Security...

Post by **blood.angel** » Wed Feb 23, 2005 5:51 pm

Theres an extensive business weekly article on this.
It explains everything and finally consludes that Bush is flat out lying as per usual.
Ill try to find it.

Post by **Nightshade** » Wed Feb 23, 2005 5:55 pm

R00k wrote:
Dark Metal wrote:Gee for some reason when I saw GWB's name and SS in the same sentance I wasn't thinking that it was refering to Social Security...

Waffen SS, mein freund.

Post by **R00k** » Wed Feb 23, 2005 6:19 pm

jawohl, that's what i thought he meant. except nothing in this thread seems to hint at that ss.