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SmootSmack · 03-25-2008, 04:39 PM

According to US Treasury Secretary Henry Paulson, the US Social Security trust fund will be used up by 2041 (thank you modern medicine!), though many think it may be sooner than that. This means that for many of us there will be no money available when we retire. Ultimately this leaves us with three choices

1. Raise Social Security Taxes
-Currently employees pay 6.2% tax, this is matched by another 6.2% from employers

2. Cut Benefits

3. Privatize Social Security
-The idea here isn't necessarily to privatize the entire account, just a portion of it (primarily in mutual funds). So, for example, you might pay a 3.2% tax and the other 3% would go into a private account

So what's your solution?

03-25-2008, 04:39 PM	#1
SmootSmack Uncle Phil Join Date: Feb 2004 Posts: 45,256	How to Fix Social Security According to US Treasury Secretary Henry Paulson, the US Social Security trust fund will be used up by 2041 (thank you modern medicine!), though many think it may be sooner than that. This means that for many of us there will be no money available when we retire. Ultimately this leaves us with three choices 1. Raise Social Security Taxes -Currently employees pay 6.2% tax, this is matched by another 6.2% from employers 2. Cut Benefits 3. Privatize Social Security -The idea here isn't necessarily to privatize the entire account, just a portion of it (primarily in mutual funds). So, for example, you might pay a 3.2% tax and the other 3% would go into a private account So what's your solution? __________________ You're So Vain...You Probably Think This Sig Is About You