What do Great Britain, Australia, Argentina, Peru, Hungary, Romania, Croatia, Russia and Chile have in common? They all have privatized their Social Security Systems. While the people in those countries enjoy a 9% – 12% return on their money, we in this country enjoy a 1% – 5% return on our money, who is better off? As a matter of fact, a total of more than 30 countries have gone the way of privatizing their retirement systems, also, the people of Chile have enjoyed an average of 12% over the past 15 years, so sign me up for that program.
So why can we not do that in this country? Because the Democrats have been fighting against privatizing Social Security for decades. Social Security advocates have long fought their case for continuation of the program with phony claims that workers could count on safety and a decent return on their money. (Notice they say a decent return, not good or great, but decent.) Now that the truth is known, privatization ought to be a no-brainer, but who ever said politicians had brains anyway.
The Democrats say it is for the betterment of the American people. But the truth is that politicians have been using the Social Security System as their own ATM account for years. Money that was supposed to be in a “Lock Box” has been drained for years by greedy politicians. Whenever money is needed for whatever, they hit Social Security and just throw in an I.O.U., which we all know, will never be repaid, it is safe to assume that there are more I.O.U.’s than money in that “Lock Box.”
Taking away the Golden Goose is not what politicians want to see happen, so they will use the “We only want to protect the American people” speech, which we know is just a lot of crap. Protecting their money source is one of their main priorities. If politicians did not have money for their pork projects, just think of how much better off we would be. With all those countries having so much success with privatizing their funds, why are we not allowed to do that here, after all, it is supposed to be OUR MONEY, not the politicians.
During the presidential primaries, the Governor of Texas Rick Perry was criticized for calling Social Security a Ponzi scheme, but he was absolutely right. The people working today, are the ones paying for the retirees Social Security, that my friends is a Ponzi scheme. Now, where is the money that the retirees put in so many years ago? Who knows, you can call Washington, but I am sure they will not know either.
Of course, there are your doom and gloomers who say it is still too risky, that’s fine, for them. I’ll tell you this, if I was 20 years old, just starting out, I would choose to opt-out of Social Security. Choice is what we should have with our money, not be forced to hand it over to Washington, so that they can do with it what they see fit to do, which is waste it. The reason why Government cannot manage money is because they just do not care, it is not their money and they do not have to answer to anyone, so they just go on spending.
Social Security is only one of the many programs that need to be privatized, as far as I am concerned, the less the Government sticks it hands into things, the better off we will all be. Governments on every continent have sold off state-owned assets to private investors in recent decades. Airports, railroads, energy utilities, roads, bridges, prisons and many other assets have been privatized. The privatization revolution has overthrown the belief widely held that governments should own the most important industries in the economy. Privatization has generally led to reduced costs, higher-quality services, and increased innovation in formerly dying government industries. Just look at how well the Post Office is being run.
The government has shown itself to be a failure at providing efficiency and high quality in services such as air traffic control, T.S.A. These industries are too important to miss out on the innovations that private entrepreneurs could bring to them, just think how much safer we would be, plus we would be treated like persons instead of cattle, as we are now.
This is one man’s opinion.