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Bush’s failure to partially privatize social security was a massive fumble
Posted on 8/18/26 at 9:22 am
Posted on 8/18/26 at 9:22 am
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In 2001 George W Bush proposed a partial privatization plan for Social Security so you could put 10% of your SS contribution into the markets.
People rejected this.
We can now see that if it had passed, the 10% that went into the markets would have outperformed the 90% the government managed, the program would be solvent, and the average SS recipient would be receiving 2X what they currently receive.
The worst bet you’ll ever make is betting on government.
5
Posted on 8/18/26 at 9:23 am to hawgfaninc
He was absolutely crucified for it.
Posted on 8/18/26 at 9:25 am to Dubosed
quote:
He was absolutely crucified for it.
Yep.
Posted on 8/18/26 at 9:28 am to udtiger
POTUS Trump or TS Bessent, with their business acumen, could certainly push for a program that enhances SS return going forward that is probably stronger than what Bush suggested.
Why don't they?
Why don't they?
Posted on 8/18/26 at 9:29 am to hawgfaninc
I wonder what would have happened in the wake of '08 though? Does the Obama admin and rest of the government panic or hold?
Posted on 8/18/26 at 9:30 am to hawgfaninc
And Reagan’s failure to shut down the department of education. Trump is the only one to actually get rid of something: USAID.
Posted on 8/18/26 at 9:31 am to Timeoday
quote:Trump cannot even get a DST bill though Congress. You think he can rally a coalition to reform and restructure SS?
POTUS Trump or TS Bessent, with their business acumen, could certainly push for a program that enhances SS return going forward that is probably stronger than what Bush suggested.
Why don't they?
Posted on 8/18/26 at 9:45 am to Taxing Authority
quote:
Trump cannot even get a DST bill though Congress. You think he can rally a coalition to reform and restructure SS?
Pretty sure it all changes when the dems and rino's get blown out this year in these primaries and, ultimately, the mid-terms.
It Will Be GLORIOUS!!
Posted on 8/18/26 at 9:46 am to hawgfaninc
I think a better way if we were starting today would be to invest it at the government level instead of the private level. Start investing x% up to 10-15% of social security tax revenue into the market. Have some kind of formula that takes into account current market trends, averages over the past year, rates for treasuries, etc and have the contribution rate be a swinging average. There's no reason we should just say "its 15% every year for forever" if there are all kinds of warning signs that the market is overly inflated and ripe with risk if we can get 5% on treasuries at the time. Have it flex between a 5-10% contribution rate based on that formula.
Now if we were starting the system from scratch then yes absolutely use Bush's model for sure. But given conditions today I think we need the returns for the program as a whole more so than for the individual, and that money being pumped into the market will still drive higher returns for the people who invest on their own outside of SS.
Now if we were starting the system from scratch then yes absolutely use Bush's model for sure. But given conditions today I think we need the returns for the program as a whole more so than for the individual, and that money being pumped into the market will still drive higher returns for the people who invest on their own outside of SS.
Posted on 8/18/26 at 9:50 am to hawgfaninc
quote:
People rejected this.
Nope, Democrats rejected it. I remember their commercials showing old people in wheelchairs being shoved off a cliff to their deaths.
Posted on 8/18/26 at 9:52 am to Timeoday
quote:
POTUS Trump or TS Bessent, with their business acumen, could certainly push for a program that enhances SS return going forward that is probably stronger than what Bush suggested.
Why don't they?
Real Patriots don’t question these things.
Posted on 8/18/26 at 10:24 am to Ag Zwin
If only Trump was a king he wouldn’t have to deal with pesky congress to get things done
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