Let's talk about taking Social Security Private. When I listen to the Farce Union AARP designed to control the minds of seniors on important issues under the lie of informing them I see a steady stream of rant about Republicans wanting to take away your benefits and end Social Security. That is 1000% a lie and they know it.
Taking Social Security Private takes control from a Congress that has tapped into the funds and now refuses to pay them back accelerating the decay of a system designed with a fail point in mind and proposed as a temporary fix.
Social Security was always going to fail and the Democrats planned it that way to be a stepping stone like Obamacare into Socialism and eventually Communism. The Democrats including Joe Biden are the only ones proposing to reduce benefits and on the charge for raising the retirement age to prolong the failed system that will vanish if nothing is done in my lifetime.
The big lie is that people on Social Security or nearing retirement will lose their benefits. This is not part of the plan, if you are on or near retirement the first thing you are guaranteed is your SSI will not be touched. The new system starts with those who have 20 or more years left until retirement and works similarly to an IRA or employer's 401K.
Your money is yours to keep and no company or GOVERNMENT touches it until it is disbursed at that point you pay your fair share of taxes. With the private system invested in things like growth stocks, business innovation, and bond funds to cover infrastructure it will grow interest at nearly 5 times the rate of the bond-only funding of the Social Security pool.
You would still be advised to invest in your own 401K plans and IRAs, but every mandatory dollar would work for you without limitations and you would not have layer upon layer of oversight and red tape eating dollars off the top before your hard-earned benefits are paid. You can retire earlier and your cash is secure.
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