That’s Right Nate

Thoughts from a right thinker.

McCain Will Put Security Back into Social Security

with one comment

John McCain has a plan.  One of the greatest crises facing this generation is Social Security and John McCain has a strategy for fixing it, but you never would hear about it from the mainstream media.  They’re too busy carrying Barack Obama’s attacks against John McCain.  The man was a POW for God’s sake.

McCain’s plan is two parts.  As he explains it, “Look, what Americans need is some straight talk. Every man, woman and child in America needs to know it’s going broke, and we’ve got to do the hard things. We’ve got to fix it for the future generations of Americans. Don’t we owe that to young Americans today? I say we do. It’s got to be bipartisan. And you have to go to the American people and say we won’t raise your taxes. We need personal savings accounts, but we got to fix this system.”

By allowing Americans to invest their money in the stock market, you give them the knowledge that their investments are protected and bringing them a larger rate of return except in the unlikely event that for some reason the stock market declines.  Still the stock market historically rises quite rapidly.  If I had invested just $24,000 in September of 1984 in AIG,   I would have seen my retirement fund worth $701,300 in October of 2007.   You can’t get that kind of growth in the Social Security Trust Fund the way its set up now.

Now for step two.   All John McCain has to do is fix the underfunding without raising taxes or cutting entitlements and we can begin investing our social security benefits into the stock market and seeing some real growth from our retirement accounts.  I can hardly wait.

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Written by thatsrightnate

September 21, 2008 at 8:56 am

One Response

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  1. I’m afraid that this will not work for one reason. The pelferers on wall street will not allow someone to come in and cut there profit margins in half, just because someone wants to help the working class poor. There is to much greed and it runs deep !

    I could be wrong, but I doubt it seriously ! Just like the 2008 congress, they will end up doing nothing about nothing for no reason !!

    DW

    September 21, 2008 at 3:49 pm


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