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Politics : Health care / Social Security / Medicare & politics
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To: mrknowitall who wrote (2)12/8/1998 6:38:00 PM
From: EL KABONG!!!  Read Replies (1) of 25
 
Mr K,

If this came to a vote of the people (I know. It won't.) I'd be adamantly opposed to allowing individuals to control any portion of their SS monies. Why? Take a look at all the folks here on SI who just plain don't know how to invest properly, and then multiply by about 100,000,000 and you'll get some idea of how much money these folks can potentially lose in the marketplace. People would tend to "gamble" with their SS monies. SS is designed as a last resort safety net, not to be the bulk of one's retirement monies. But millions of folks would try to leverage a few SS dollars into a retirement fortune, and the vast majority would lose megabucks doing so.

And when that happens, just who do you think will have to bail these people out (through taxation, of course) so that they get a minimum standard of living? You and I and everyone else that didn't fritter away their investment monies, that's who. So, I'm opposed.

KJC
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