Quote:
Originally Posted by dogzilla
Social Security should be privatized. I've been contributing to my 401K for the last 15 years or so. My 401K alone is on track to match at age 62 what my Social Security payment will be at age 62 where I've been paying into Social Security for 36 years. That's following a pretty conservative investment strategy of investing in diversified stock market funds and bonds to reduce the risk of a single stock crashing.
Besides which, I get to pass on any 401K balance as an inheritance, which I don't get to do with Social Security.
It's not the government's job to save me from myself. It's not your responsibility to provide me food and shelter and it's not my responsibility to provide you with food or shelter.
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That's a fair point of view. So, you just got elected King, and got rid of social security. Now, what do you, as King, do about the many people who bet on the market wrong, or for whatever reason didn't save up enough for their own retirement? That was the situation before social security. Humanity has gotten no wiser since then, so that will be the situation afterwards. Will you wash your hands of them? Put them on the government dole?