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Politics : Politics for Pros- moderated
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To: TimF who wrote (101702)2/23/2005 11:19:55 AM
From: Lane3  Read Replies (2) of 793745
 
hat doesn't mean we shouldn't look at potential problems.

Here's something else that would need to be considered. If this is to be voluntary, will it be possible to switch horses in mid stream? Or, once a track is chosen, is that track life long?

Say we have a sixteen year old kid taking his first after-school job at McDonald's, he signs up at the payroll office, and they ask him which track of SS he wants. What does he know? Or care at that point? An extra thirty bucks a week in spending money is hardly high finance. Is he stuck with what he chooses? And if there is to be an open season, does it work both ways? I've seen suggestions that once you opt for a private account, you can't go back. Is that so? And what about getting into a private account at a later date if you opt out in the beginning? And how complicated would it be to do the conversion? And is there someone to counsel this kid? Would that responsibility fall to the business? Even if it's a small business?
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