Quote:
Originally posted by mikester
I wonder why anyone who advocates the privatization of SS never recalls that the market has at time drastic ups and downs. The corporations as a whole can not be trusted with societies welfare because that isn't their job - their job is profit pure and simple granted if they do well their stock should as well but that isn't always the case. Sometimes they lie and when they are caught (Enron) and the stock crashes all of those who had their 401ks and such invested loose. I know I took a heavy beating on my 401k during the dot.com bubble burst.
Social Security is social responsibility. As Americans - United we stand.
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I understand your concern, but I'll bet that if you compare a similar investment in regular FDIC insured passbook savings for any 20 year interval since SSI was created, SSI loses in a big way.
As a vehicle for creating wealth, SSI is a dog. I suspect folks would be better off if the government required them to put their SSI contributions in a mattress.