The Push to Privatize Social Security - S02E15

[Rusty5329]

Run time: 01:47 https://www.youtube.com/watch?v=WgZ-rWGH7n8   Posted on YouTube: July 11, 2011 By YouTube Member: MainStreetInsider Views on YouTube: 149   Posted on DU: July 11, 2011 By DU Member: Rusty5329 Views on DU: 1207

 
This week, we take a look at a proposal to end Social Security “as we know it.” H.R. 2109, the Savings Account for Every American Act of 2011 would establish a path for individuals to opt out of Social Security in exchange for a “defined contribution” system.

For more info, visit http://www.mainstreetinsider.org/90secondsummaries/?p=394

[pam4water]

1. Great summary make make the music a little softer at the start.

[Rusty5329]

2. thanks for the suggestion...

I'll pass it along to the editor.

[blank space]

4. Bush privatised Texas Social security

while he was governor, look into it, he handed it to Raytheon I believe, and it was President Bill Clinton who stepped in and forced it to be overturned.


HAND!

[sulphurdunn]

3. I'd be more than happy to forego Social Security.

You see, as far as I'm concerned, the piddling amount I'll receive in benefits from it is a huge sacrifice already. Anytime the political whores in Washington want to do away with the program they have my blessing. So long, that is, as they repay me every cent I ever put into it over my lifetime. That amount comes to about $120,000. But wait! There's more! I want that $120,000 back at 5% annual compound interest for 45 years. That works out to around $1,550,000. I'd prefer it in one lump sum, preferably in cash and before taxes. :smoke: