Since its inception diehard elected officials in the Republican Party have been against social security — except at reelection time. Now they try to hide behind “privatizing” the fund, though it is primarily a safety net for millions who depend on it. Along with these diehards are the wealthy of both parties who simply don’t get it.
The vast majority of us underlings are Wall Street ignorant and except for those lucky enough to have retirement pensions and 401K’s they have no investments nor the savvy to engage in it, and the few who do usually make the wrong decisions.
“Don’t fix what’s not broke. “ Social security is invested in Government Securities, the safest investment. The cowboy investors are not satisfied with investments backed up by the government and would rather be at risk — and they have the wealth to indulge in the gamble. I say go right ahead and let them opt out of social security altogether by taxing them 5% of their total payroll to help support the rest of us. True, they would forgo Medicare as well but they have the wealth for their own insurance. Few would take this option because they would realize that social security is, after all, security.