Good Ole George Bush and Social Security

[Turfgrass]

I'm waiting for them to say there going to run 401 k plans so employers can stop.

:mj07: A goverment matched 401k. :mj07:

That sounds like the idea to have a government subsidized savings plan outside Social Security. I haven't heard the details, but I would imagine that if you set aside some money the government will match that money. And just where does the matching money come from? From the taxpayers, of course.

Here's a guarantee: If it actually gets started there's going to be an outcry about the poor, poor, pitiful poor people who just can't afford to get started in a savings program, and thus aren't eligible for the matching government funds. You know how that one will end up, don't you? The government will end up paying both the personal and the government share.

 

[StevieD]

SS will be saved through the miracle of compound interest and today's far more sophisticated private investment vehicles.

Unfortunately the miracle of compounded interest will be working againt the plan because he has to borrow to pay for it!

 

[MrChristo]

raise the retirement age

Yep, because what we all really need is more 75 yo doctors, lawyers, pilots...what-the-hell-ever!!

Doesn't work anyway...creates a vicious cycle.
Raise the retirement age, more younger people are unemployed...means; a) They aren't going to be able to save in private funds for their own retirement, and; b) they will also receive more SS 'handouts'.

 

[dr. freeze]

do you think there is a finite # of jobs available?

or do you think that more work creates more products?

do you think more people making money creates more demand for more products/services? (just look at the growth of the service industry in recent years -- yes jobs are moving overseas because things can be made for cheaper -- all that means is the standard of living can be raised as the US work force migrates into the service industry)

do you think more people working for the dollar increases or decreases its value?

speaking of old doc's....do a quick search on Denton Cooley and Micheal DeBakey....maybe you will feel a little enlightened on just what some folks can do long after they should have retired