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View Diary: Paul Ryan shows he hasn't given up on privatizing a chunk of Social Security (75 comments)

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  •  Social Security (4+ / 0-)
    Recommended by:
    2laneIA, barbwires, KenBee, divineorder

    A Social Security benefit is a government-guaranteed fixed annuity with inflation protection. You cannot buy that from any investment firm because it doesn't exist anywhere else.

    Such an annuity makes an ideal complement to mutual funds, stocks, bonds, real estate, and other assets that most working Americans have in their 401k, IRA and personal investment accounts. So why financial guys like Romney and so many other Republicans would be against it, or want to change its nature, is a bizarre mystery to me. Any financial expert worthy of the name would say you are spreading the risk and assuring yourself a floor of guaranteed income. And that's a tough combination to beat.

    The people who allegedly would benefit by investing their SS contributions in other places in pursuit of higher returns really don't need to do this because they already are doing so at work or will be at some point in their lives.  

    •  You forget that it includes a disability annuity (1+ / 0-)
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      and a survivors annuity.

      There are insurers who sell similar products, but the GOP lies about how good of a deal it is.

      The GOP is the party of mammon. They mock what Jesus taught.

      by freelunch on Fri Oct 12, 2012 at 02:28:52 PM PDT

      [ Parent ]

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