Private Insurance Policies

Do you believe private insurance companies will be willing to take on the risk of privatizing Social Security?

Do you believe private insurance companies will be willing to take on the risk of privatizing Social Security? Why or why not?

Public Comments

1. No. Social Security has nothing to do with health (or any other type of) insurance.
2. Insurance companies would not be involved. The privatization of social security would involve individuals setting up their own government approved IRAs. An agreed upon sum would then be automatically deducted from each paycheck and deposited into the account. The big difference is that under no circumstances could the person dip into that account before retirement (or death). No doubt the folks on Wall Street and the investment houses love this idea as it means more business for them. Also, it would mean that people who participate in the scheme would have a much MUCH greater retirement nest-egg when they retire. The problem is that by taking these funds out of the Social Security system, the government would have no way of paying for current retirees, and the millions more who will retire on Social Security who did not have enough time to make these new investsments (i.e. "Baby Boomers").