Social Security

Social Securtiy out of the governments hands and into the peoples

I know there are some holes in this plan, It’s just on outline of a plan so Read it and let me know what you think. 

I have an idea for fixing the problem with social security, My plan would be costly to begin with but fair to all who already have paid money into the system.  The problem with Social Security is very simple, We allowed the federal government to dip into the fund to cover out of control spending.  We need to keep the federal government out of the cookie jar and keep the money in our hands where is belongs.

 My plan begins with everyone still having to participate in social security to save for retirement but the government isn’t allowed to touch your money unless you say so.  From the moment this would be enacted you would have control of the money just like a 401k plan.  We would setup a nationwide plan just like local and national companies do, Imagine the buying power of pooling everyone together.  You could invest in riskier stuff when you are younger and moderate as you grow older, nearing retirement.  My plan would also allow anyone not comfortable about investing their own money to loan or invest with the federal government at a rate to be determined. You would be unable to pull any money out of this account until the age of 60 or you can wait until you retire.  You could stay in the plan after retirement to keep growing your money or pull ever dime out to use at your discretion.

 We would need to set a minimum and a maximum you could invest at each pay period and you could decide how much you would invest in your retirement. I would also make the amount invested pre-tax just like a normal 401k and you could still participate in a real 401k if your company offers one. This would be your money to control, people would still be saving for retirement but without government stealing the money.

 One of the great parts about this plan is the money is yours, If you happened to die at 50 on the current social security plan your family loses the money you invested.  You can apply for assistance if you have children under 18 and there are some other benefits but mostly the government keeps your money.  This is 100% true if your single with no children, You don’t make retirement and your money you invested with the government just vanishes. (seems like a tax to me, A big one)

 You would include all money in this plan in your will, living trust because the money is your and belongs to your family.  In my plan your family would have the option to take the money out to pay for the funeral, bills or just for backup to unforeseen problems.  Your beneficiaries would also have the option to put that money into there account or accounts tax free until they retire to grow the money even more.

 This is just a basic outline for a plan that I call Social Security for the People Reform Act.  The cost in the beginning would be very high because the amount of money coming in would be less to cover what’s going out.  This isn’t a quick fix by any means, this is a long term fix for the good of the country.  My plan would mean everybody would get what they have already paid and eventually the government and the tax payers would be clear of the current social security system.

One Response to Social Security

  1. Dirk Midden says:

    Coming changes to medicare insurance will gain some recipients — but is likely to make coverage higher end for those who have higher profits. Thanks to some extent to this kind of year’s health-care renovate, everything through benefits along with enrollment policies to the choices available will be affected start Jan. 1.

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