XTC
01-31-2006, 01:47 PM
So guys, what do you think should be done. Tax more or Privatization of SS?
Analysts say within 30-40 years our current SS will be bankrupt. Clinton also proposed personal accounts while he was in presidency. But privatization doesn't guarantee you an affordable income when you retiree. Personal accounts would depend a lot of outside factors. Such as the state of the stock market, how well your company is doing, invest smarts, etc. Also, low-income workers are basically screwed since you have to pump 5% of your annunal income into this account. Whereas, now, the max you pay for SS in your lifetime would be 90K. But the the plus side, it would pump billions into our economy. Also, analysts think workers would take a greater pride in their work since the more productive you are, the more SS you Might get.
Analysts say within 30-40 years our current SS will be bankrupt. Clinton also proposed personal accounts while he was in presidency. But privatization doesn't guarantee you an affordable income when you retiree. Personal accounts would depend a lot of outside factors. Such as the state of the stock market, how well your company is doing, invest smarts, etc. Also, low-income workers are basically screwed since you have to pump 5% of your annunal income into this account. Whereas, now, the max you pay for SS in your lifetime would be 90K. But the the plus side, it would pump billions into our economy. Also, analysts think workers would take a greater pride in their work since the more productive you are, the more SS you Might get.