A Congressional Research Service report titled "Social Security Reform" (October 2002), by Geoffrey Kollmann and Dawn Nuschler, workers who retired in 1980 at age 65 got back all they put into Social Security, plus interest, in 2.8 years. Workers who retired at age 65 in 2002 will have to wait a total of 16.9 years to break even. For those retiring in 2020, it will take 20.9 years. Workers entering the labor force today wont live long enough to get back even half of what they will put into Social Security. Your unwillingness to allow people to save for their own retirement needs because they are not money managers reminds me of C.S. Lewis' admonition: "Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." What business is it of yours if they do not save for their retirement needs? Is it because you will be forced by government to take care of them? If so, being forced to take care of someone else is what should offend you. You should be forced by your conscience to privately help those who mismanaged their money and did not save their retirement and not force others by government coercion to pay for someone's retirement.<quoted text>
You apparently for some reason have a huge problem with S.S. Maybe because one of your family members or a friend was declined for disability?
It isn't threat or intimidation. Tell that to the millions of seniors who survive and have survived off it for decades and see how that works. You must have a very high expectation that our nation consists 100% of money managers? Wrong again. You don't know what severe and extreme numbers in poverty would be if it was left to 100% of the people to invest their own dollars. Won't work...won't work period. Actually, S.S. is a wonderful thing the way it distributes itself, with exception of the abuse by "we the people". Because bottom line is, unless you kick it early, have no spousal or minor children to inherit a benefit of, you NEVER pay in what you retrieve, plus it keeps more poverty off the backs of contributors, and any decent person's conscience more clear for not letting some starve to death right in front of you.
I'll take the risk that I'll live a while and gain a sizeable return on my investment. That way, my return is guaranteed...unlike Wall St.(i.e. 2008). If people's investments had been their lifetime of S.S. investments, that would have been a 40-60% decline.
Try to get your head out of short term thinking...for a change.
Madoff is one of your Wall St. buddies that screw-d the rich...and for that. I guess I can thank him? And these are the type you want our S.S. in the hands of? No thank you.
The wonderful way you describe that Socialist security distributes itself are the threats and intimidation used by government against anyone who would refuse to pay socialist security taxes. You know very well if someone refused to pay , threats and intimidation will be forth coming. Your social security return is guaranteed by the forcible confiscation of younger workers who have much less wealth than you. The system relies on expectation that future workers earnings will be stolen to pay for your benefits.