Les Jones

The way I see it, the federal government ought not be in the pension business PERIOD. If privatizing SocSec is a first step toward that goal, I'm for it. Why bring class warfare into it?

I'd be happier if I could just CHOOSE to opt out of the government pyramid scheme altogether.

By the way, aren't the Democrats supposed to be the party of choice? How about the freedom to choose how I prepare for my retirement? Eh, Mr. Kerry?

If we don't have Social Security, what happens when people get too old to work? People used to plan for that, but since Social Security was implemented they don't any more.

So now we'd have people starving to death in the streets. As a society we're not going to let that happen, so there's no getting rid of a government-related retirement plan of some kind.

I think there's a parallel to the savings and loan industry. They paid higher interest rates because they didn't have to pay FCIC insurance. But when they went bust the government stepped in and bailed them out to the tune of $50 billion. Fundamentally, the government couldn't let a financial institution go under.

In retrospect, tt would have been better for everyone if the government had required FDIC insurance for the S&Ls. That way the money would have been there to bail them out, and the oversight would have been stricter, so the bailout probably wouldn't have been necessary to begin with.

Social Security for those who want to participate in it is fine. But to force me to give 15% of my income to support it is not.

Here's the problem: The government already gave that money you are complaining about having to pay to your parents or grandparents. They are planning on giving your children's or grandchildren's money to you.

Here's the solution: If you want to opt out of the social security system fine, just pay back what the government gave or is giving to your parents. Or it could just be taken out of estate tax. How bout that? The wealthier your parents, the more you owe. That would be the real capitalist way out of this.

Their are three proposals on the table to privatize social security. With all three you are only able to place a relativly small portion of the 12.5 percent that is taken out of your payrole for social security. Also, the second plan garantees a minimum payout of 120 percent above the poverty line for 30 year minimum wage workers.

Firstly, there is only 6.2% taken out of your pay. The remainder is paid by your employer. Don't think for a minute that your boss will give you that extra money without a fight if SS is eliminated. Since it's not eliminated, that other 6.2% is not yours to claim. Secondly, no mater what they tell you there is no way that 120 million people who are now paying into SS are going into the private sector and all coming out winners. It has never happened and there is no reason for it to happen now. So that means that some people will not have enough to live on and then what? Let them starve? Or the government pays anyway? The privatizing idea is wrongheaded. With 401Ks and IRAs you can invest some of your own money for a greater return. By the way-401Ks and IRAs always pay back, they never lose, Right? I rest my case