28
Social Security Could Be Privatized Under DOGE, Democrats Warn. What Would That Mean?
(www.investopedia.com)
this post was submitted on 19 Mar 2025
28 points (100.0% liked)
Economy
993 readers
102 users here now
Lemmy Community for economy, business, politics, stocks, bonds, product releases, IPOs, advice, news, investment, videos, predictions, government, money, politics, debate, current trends and more.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
So wait this would mean that congress wouldnt be able to dip into that coffer any more and would be required to pay it back?
Wouldn't it mean when the private company makes risky investments with the Social Security trust fund, when the value is lost, the private company simply declares bankruptcy and you have nothing for the rest of your retirement years?
I mean both are bankrupt soooo. And they shouldnt be investing shit, I dont think it was ever supposed to gain money in any way it was just to be for later.
Your statement is fully false. You've been fed too many conservative talking points.
As long as conservatives don't gut it worse or privatize it, and nothing else changes, after 2035 retires will still receive 83% benefits. 83% is FAR greater than nothing. Also, there are things we can do to avoid that 17% drop in 2035. Raising/removing the cap on Social Security income contributions would do it. Social Security has historically had tweaks like this to improve viability with the changing times. Thats how good management works.
Useful idiots love talking fake facts with that air of confidence...
But clown doesn't understand how SS regime even operates or he would know how stupid that statement is
I would love to see numbers on that, I was under the idea that they (the house/gov) had dipped into it so much that they were going to be out of cash, I never thought the system didnt work just too many hands in the cookie jar.
Search "social security 83%" will net you piles of results.
Or you can go right to the Social Security website which also says this same thing PDF link
Lol sure but the private company will instead start using automated shovels to scoop huge amounts out instead till it can't be managed, call it a failed and pocket the rest.