Originally Posted By: sinij
What really irks me is Ryan's plan proposed privatization of Social Security. Whatever your political views, you might even think that what I described above is somehow a good idea. One point is undeniable cronyism - Social Security, that you currently cannot opt out of, once privatized will be direct outlay to the Wall Street out of every paycheck of every working individual in the country. Lets call it what it is - Ryan's proposing Goldman Sachs tax.



Honestly I have not read the fine print on the plan. As you put it, I would agree with you. What I am uncertain of at this point is how much control the individual would have over their retirement plan. If there was freedom of investment, you simply *had* to invest something toward retirement... I would be OK with that. Sure, the masses would still fork over cash to Sachs and their ilk... I would be investing in mines, wells, forex and land.

I am pretty certain I can invest for my retirement better than either the Govt or Wall St.

If the privatization of SS was a forced matter though, and you had to funnel your cash to a certain handful of connected Wall St firms ( which is entirely possible that it would work that way sadly enough) then I would tend to agree with you.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)