Should social security be privatized?


Had this project moved forward the money would likely have gone to firms like AIG, Goldman Sachs, and Lehman Brothers. They have, as a an oligopoly, an extraordinary conflict of interest in that they can create or cause to be created, paper that appears on the face to have value but ultimately does not. They can then cause your retirement assets to be used to purchase this valueless paper at extraordinary personal profit today while future generations learn that it is worthless long after the fact of the swindle. Privatizing Social Security is the most efficient way to secure retirement in the future. Investments would be restricted to insured municipals.Government Bonds and selected high grade corporation dividends. Ex: I calculated my SS contributions and matching contributions by my employers during my working life and estimated that these contributions invested, as suggested above, would have yielded $750,000 at retirement. Given a very low 3% return during retirement would yield $22,500 per year and my heirs would inherit $750,000 at my death. Our government would subsidize the transition for approximately 25years and then be free of the entitlement forever, similar to a mortgage. This would start at age 40 and all those qualified for SS over 40 would continue to participate in the present system.