The leading Republican presidential contenders are embracing plans to partially privatize Social Security, reviving a politically risky issue that President George W. Bush abandoned after Democrats pounced on it.
As President Obama sidesteps ways to keep the retirement system viable, his would-be rivals are eager to let younger workers divert part of their payroll taxes into some type of personal account to be invested separately from Social Security.
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Former Massachusetts Gov. Mitt Romney has a version. Reps. Michele Bachmann of Minnesota and Ron Paul of Texas have said younger workers should be allowed to invest in alternative plans. Texas Gov. Rick Perry has raised the idea of letting whole groups, such as state and local government workers, opt out of Social Security.
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Social security use to be a good thing. But the federal government has wasted and dipped into it so much it's really not what it use to be. I believe it should be done away with, because for one, it doesn't pay enough back to those who contributed to live on anyway.
And two, It now serves as a money pot for the feds to stick their hands in and give it away to those who really didn't contribute enough to draw from it. So Bush had a great idea! Make social security personal accounts. So you get all that you put in to it. And it doesn't get redistributed to other people who didn't earn it.
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1 comment:
Good post. Wasteful spending needs to stop in Government
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