Privatization of Social Security…An On-again/Off-again Issue
Quite a bit has been written on the subject of privatizing Social Security funding via stock market investment, and for many years, the basic premise has been a volatile issue for governmental administrations. Take, for example, President George W. Bush’s 2005 failed second-term push to allow younger workers to invest a portion of their Social Security withholding in private accounts. It didn’t go very well, causing President Bush to expend a major portion of his political capital on a losing cause.
The issue had surfaced before 2005, of course, and has resurfaced several times since, but popular traction was a lost cause. Business writer and columnist Russ Wiles, in a post on azcentral.com, offers the opinion that the argument for stock market investing for Social Security’s surplus funds is a moot point at this juncture, and offers an analysis of why this is so. Read his post here.