I thought replacing SS with private investment accounts was the "fix" that Republicans wanted?

Also: why are so many of you unaware that SS is an insurance and NOT a retirement account.

This post was edited on 12/27/14 at 10:11 pm

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Posted by GumboPot

Member since Mar 2009

119034 posts

Posted on 12/27/14 at 10:10 pm to Asgard Device

What's that have to do with myRA?

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Posted by ljhog

Lake Jackson, Tx.

Member since Apr 2009

19090 posts

Posted on 12/27/14 at 10:21 pm to Asgard Device

quote:
I thought replacing SS with private investment accounts was the "fix" that Republicans wanted?

myRA is not a true "investment account." The individual can control asset allocation and is required to buy only U.S. debt instruments. Secondly, this does not replace SS which should be ended ASAP.

quote:
Also: why are so many of you unaware that SS is an insurance and NOT a retirement account.

SS is neither. If it where "insurance" then the federal government couldn't keep changing the contract unilaterally. And clearly it isn't an individually owned account.
It is in fact, a classic Ponzi scheme.

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Posted by SlowFlowPro

Simple Solutions to Complex Probs

Member since Jan 2004

423631 posts

Posted on 12/28/14 at 9:09 am to Asgard Device

quote:
Also: why are so many of you unaware that SS is an insurance and NOT a retirement account.

i don't think you need to tell us that it's insurance. i think you need to tell the millions of people who are using it as retirement, as well as the millions who have saved at rates anticipating SS to be used as their retirement (in the future)

if it was insurance, the vesting age would be like 75 now or some shite

This post was edited on 12/28/14 at 9:10 am

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