A Note on Privatization of Social Security
To save for my retirement, I'll put away a little cash on top of the social security tax I pay. We can't just pick up and take our cash home to our own private accounts when the social security system needs it more than ever to help support our parents and grandparents.
Removing money from the system now is just irresponsible. Social security can't come to an end with the largest population relying upon it.
I don't look at social security tax as my savings -- it's security for today's retired people. I'm also smart enough to not expect social security of the future to be adequate or even exist when it comes time for me to collect, so I'll save for myself through the private funds, 401K's, etc. They can just stop promising me anything now, and I'll understand in 40 years when no one's paying social security and they're all saving for themselves.
Filed Under: Politics