Want to save Social Security? Privatize it.

Posted by: Phineas on January 16, 2011 at 4:25 pm

**Posted by Phineas

Everyone who hasn’t been hiding under a rock knows that the two main pillars of our social welfare system, Medicare and Social Security, are in big trouble and threaten to wreck the nation’s finances. With regard to Social Security, Dan Mitchell suggests the way to save the program is to let everyone have private accounts:

Mitchell mentions several countries that have had success privatizing their social pension system. Chile is just one example of a country where privatization has worked wonders. Isn’t it time we took a hard look at doing the same thing, instead of just demagoguing the issue?

(Crossposted at Public Secrets)

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5 Responses to “Want to save Social Security? Privatize it.”


  1. Carlos says:

    Cain’t do thait, Phineas. We’uns is too stoopid ta be trusted with such big decisions, don’tcha know?

    Why the heck do ya think Obermer has ta take such care of all us chillun?

    The simple idea of big government is one of the most humiliating things the statists and leftists can ever try to bury us in. The complete arrogance of such elitists is enough to turn any thinking person’s stomach.

  2. Tango says:

    Hillary Clinton on Social Security : Aug 8, 2007

    “We’ve got to make sure that nobody ever tries to privatize Social Security, something that I’ve fought tooth and nail with many of you to prevent. “

  3. Kate says:

    We know that there are those, like Hillary above, who seem to think that Social Security is too big to fail…where did we hear this before. There are those in Washington who are in complete denial and refuse to do a thing for fear of losing support from senior citizens.

    To these people, I say, “You should be fired for not doing due diligence and being good stewards of moneys entrusted to you for the futures of your constituents!”

    There should have been action taken years ago. Actuary tables tell the truth, politicians have not! Some people think a few crumbs thrown to them from the government table will be enough to supplement their pensions in their retirement years. Think again, if you have pension plan invested in the current economy you are going to probably take hits and get less in the long run, but over time it will regenerate. Some union pension plans are in the same position as social security….less workers and more pensioners equals lower benefits. Do you think they will switch over to 401K’s soon? I have seen this creeping into the Teamster’s plan. No one is making any bones about it. It’s a fact. Workers need to supplement their pensions….employers are offering the 401K plans now in addition to whatever they pay into the Teamster’s pension plan. Do you think BIG government will take a hint from business? I won’t hold my breath…

  4. Drew says:

    Go Barse !!:d

  5. Steve Skubinna says:

    Not gonna happen. Social Security, like any entitlement program, is a means to leftist control over peoples’ lives. We’re talking cold dead fingers here.