A thought:
Guarantee my social security principal . . .
Under social security now I am guaranteed to get a certain amount. Let's ballpark $2500/month, ok?
Now, if I choose to have one of Shrub's mysterious private accounts, and because of this choice I have my benefits cut by 30% which brings my monthly SS income down to $1750, why not require that the $750 (Making up the difference for the total $2500/month) is the MINIMUM rate of return?
IOW, require the investment guys to bring me a guaranteed rate of return over time that will be no lower than what I would make if I go social security all the way. If it comes up short . . . THEY have to cover the difference.
Banks have indexed linked CD's that guarantee principal, why not guarantee my social security principal?
BTW, if this was the deal NO financial firm would go for it. They want you to have all the risk.
Whadda ya think?
-Prodigal Son
IIRC, it is against SEC regulations to guarantee an investment that is not backed by the federal government.
ReplyDeleteNo one supporting privitization is able to answer my question about what we do with retirees that invested foolishly. Let them eat cat food?
Iman
Of course eat cat food. I say, if there investments turned out bad they must have sinned or be disliked by Our Heavenly Father God. I say, you havent read The Prayer of Jabez. I say, liberals dont know HOW to read! HA! Our President Bush knows you have to love God to be President. And if God loves YOU you're investments will do good.
ReplyDeletePariah Jenkins
BTW, the social security push polls may have begun. Read http://www.buzzflash.com/contributors/05/01/con05009.html
ReplyDeleteThe thing that really bothers me about SS piratization is that if it does go through, the next step will be to make investment in the stock market mandatory. Every pay period a chunk of your money will go to Wall St. whether you want it to or not, like serfs paying tribute to their lords.
ReplyDeleteAnyone gotten one of the push poll calls?
ReplyDeleteBUZZFLASH social security scare calls-Prodigal Son
I think I may have. A message was left on my voice mail that said "we need to talk with you about your future and our country's future."
ReplyDelete