2012-10-23 10:58:47 UTC
the more than six thousand existing ones to which this should be
The privatization of Social Security would be an economic disaster for
those workers who make too little to have discretionary income. Absent
that, how would they be able to contribute enough to a 401k, or other
medium of saving, to allow for a non-starvaton retirement income?
Take a look at what's happened to the finances of workers whose
pensions have been eliminated after giving them the money they had put
in. The vast majority have done irresponsible, and even some
frivolous, things such as taking never-before-possible trips, buying
things they could have never previously afforded, etc. In other words,
the money's gone!
And take a look at the economic situation of workers whose pensions
have been stolen by corporate takeovers or failures such as Enron.
Has ANY country privatized its Social Security system? Germany was the
first to have one. One would think it would also be the first to
privatize. As far as I know, that hasn't happened.
The ONLY safe pension is a union pension. If you're among the
unfortunates who don't have a union to represent and protect you and
to manage your pension, you have my sympathy. It's a situation you
ought to alleviate immediately by joining with your fellow workers.