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Originally Posted by lookout123
tell us, what specifically scares you about individual accounts? please give me specifics, not generalizations about MBA's, shiny shoe salesman, and mental midgets - tell us what exactly doesn't work, in regards to individual accounts?
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You want private investment. Its called Roth IRA. Its called 401K. Its called 403K. Plenty of private investment schemes already exist. Why would you advocate raiding the cookie jar? To fix SS? Even the president finally had to concede this private investment nonsense does nothing to fix SS.
Why more complex private investment schemes that only increase risk unnecessarily? Workers have a long list of private investment schemes they are suppose to be using. SS is the safety valve - a guaranteed nest egg - for those who failed in their private investment schemes. A problem the Wall Street Journal recently discussed in an article entitled "Theft From 401(k)s Is on the Rise". But Lookout123 pretends we depend only on SS for retirement. Therefore we must increase the ROI on SS money - increased risk be damned.
SS is the safety net - the one source of money not at risk - for good reason.
Plenty of private investment oppurtunities are available without complicating Social Security. Those shiny shoe MBAs hope we forget that little fact. Anything to get a piece of the Social Security money into their managed portfolios. Its called greed. Another reason for politicians to solicit legalized bribery money from grossly overpaid stockbrokers.
Calm down Lookout123. Your god does not approve of your routine half truth postings. A little confession rather than posting insults is good for your soul.