Mumia W wrote:
> Not everyone has the choice that you have. For *most* people, it's
> either a free education, or no education. That's why public schools are
> needed.
And why would it be no education if they were no longer required to pay
for the total lack of education from the public sector right now?
> A person doesn't have to be stupid to not want to have to learn about
> that stuff. And yes, even the stupid *deserve* retirement security.
They deserve exactly what they are interested in getting.
> The experts at the Social Security Administration *are* doing it, and
> they're doing an incredibly efficient job at it too. Social Security has
> less than 1% administrative overhead. No private retirement options come
> even close.
Know what, I'd rather they had 5% administrative overhead if their returns
weren't so dismal. Touting their administrative overhead without looking at
other parts of the equation is ignorance at it's best. Tell you what, if you
think administrative overhead is all that matters how about you give me all
the money you're planning on using for retirement and I'll stuff it in my
mattress. When you need it, I'll hand it back. I'll do it for free so my
administrative overhead is 0%! What a steal!
> Those people you'd hire screw up all the time, and they screw their
> customers half the time. Social Security doesn't have that problem.
Uh, yes, it does. First off you're talking to people who believe Social
Security is screwing them and others over RIGHT NOW by it's very existence.
The fact that Social Security is due to run out a full 20 years before my
retirement proves that I'm most certainly screwed in this transaction.
> Social Security doesn't have fund managers that run off with all the
> money.
Yes, they do. They're called Senators, Congressmen and Presidents.
> Social Security doesn't have brokers that churn and burn your
> retirement nest egg. Social Security doesn't make risky investments just
> to make a quick buck, and when their values collapse, they write you a
> letter saying, "We invested in those ultra-high-yielding junk bonds
> because we wanted you to get a lot of money, but now the bonds are
> worthless, and we lost all your money. But it's not really our fault
> because you were stupid enough to trust us."
Instead they don't invest at all and will be writing me a letter saying,
"Sorry, but we ran out of funds 20 years ago because our Ponzi scheme collapsed."
> Social Security is not driven by a high profit motive; it's purpose is
> to provide stable retirement income to people, and it does a fantastic
> job of that.
Bull. My parents aren't counting on Social Security for their retirement.
I'm not counting on it for mine. In fact we're both hampered by it.
--
Steve C. Lamb | But who decides what they dream?
PGP Key: 8B6E99C5 | And dream I do...
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