New Legislative Body - Super Congress

[mrstickball]

Kasz216 said:

Social security is for people who can't afford to plan for retirement...

and forcing them to do it anyway.

Sure most other people could do a better job. (Though a couple would blow it).

Get rid of social security... and chances are the poor people who can't afford it, instead will spend that money on bills and crap and probably still go bankrupt...

and then it will take more government money to spend on them anyway. 

Honestly if anything, social security should work like an actual investment fund, where the money is invested.

Rather then being used by the US to buy bonds for itself so it can spend that money elsewhere.

It would be like if I was your investment broker, and I took your money and bought "bonds" from myself stating that when you retire i'll pay you the money back +5%.

There really isn't anything backing it.

Denmark is making like 10%+ a year with their investments.

Social Security should work like government retirement programs that the states have.

First, you can opt out and invest however you like. Secondly, if you do choose their program, its invested in a basket of markets and usually returns significant percentages (OPERS was 7-8% when I was in it). Thirdly, you opt out of any other programs if you want to (in my case, working for the govt. meant I was exempt from social security taxes). Fourthly, you can take your money out of the system less pentalties and get a big lump sum check if you ever quick your job before retirement.

Optimally, Social Security should be a default choice for all Americans - use it if you like, dump it if you don't. If you do keep it, you get a very conservative investment portfolio of bonds, real estate and very few, dividend-focused stocks. However, you can opt out at any time and take your earnings, less a penalty.