Quote Originally Posted by rotorgun
Ti Xiahou,
Your eloquent point is precisely why I was totally opposed to any monkeying around with the social security fund as proposed by the Bush camp. Given his propensity for failed financial adventures, it amazed me that he had the audacity to recommend privatizing the system. (I can imagine that he had a string of investors lined up from the family owned investment group to rake in that windfall)
That is exactly why it should be partially privatized, imo. Because the government cant be trusted to invest my money. I'd be better off stuffing it in my matress at this point... The government should be the entity to decide where my money gets invested - I should.

Keep the plan mandatory in that you must pay into it and you cant touch it until a certain age. The plans I like involve taking half of your contribution- usually the employee half (leaving the employer contribution to continue to fund the current system). When you opt into this plan you forfeit any claims under the traditional system, however, you now get to control how your money is invested (ala 401(k) plans) and what you put into and gain from it are yours and only yours... meaning the government cant decide one day it needs a new revenue stream and replace your portfolio with a pile of US government IOUs.