Quote:
Originally Posted by Michael
My issue with privatizing Social Security is that it really isn't about the individual investing his/her own money. It would look like the Medicare Drug benefits where you could chose Plan A, Plan B or Plan C. Invariably that means your money will be invested in Halliburton, ExxonMobile, etc... Who gains the most in that transaction? Halliburton, ExxonMobile, etc...
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I am unaware of any plan for the privatization (or partial privatization, as is normally the case) of Social Security that would allow for investment in individual stocks. Such a plan would be immensely risky and imprudent. No, every plan that I have ever seen, for the partial privatization of Social Security, would allow a small portion of the proceeds to go toward mutual fund-type investments. This portion of Social Security, therefore, would be very much like an IRA, a 401(k) plan, or the similar Thrift plan for federal employees.