posted on Jan, 17 2015 @ 01:44 PM
a reply to: cardinalfan0596
In a perfect world, everyone would have the financial wherewithal to take care of themselves. In a perfect world, no one would become sick/disabled,
unemployed, elderly. Because the world is not perfect, even though we might intensely long for it, we take care of each other. As tribes unite, we
pool our resources to offer a modicum of support to members, seeing it as beneficial to the group, so the group will not suffer collapse.
Every economic system has prices its citizens must pay. Social Security is the price citizens pay for a capitalistic economy in America. When
capitalism fails citizens, safety nets are around to prevent complete collapse of both economic and government systems.
There is nothing wrong with private investment or assistance. Both have always been a part of the American economy. What is wrong is to believe that
private investment and assistance is all that needs to be. The 21st century especially is not the 19th or the 20th.
Also, “Wall Street” is used to refer to a broad range of investments, even 30 year govt bonds, with a broad range of risk. Wall Street
rhetorically refers to the “investment industry” that wants to sell you a “product”. The term “savings account” that has replaced the
traditional American “savings account” now can refer to investments primarily coming from the financial industry (“Wall Street”).
The opposite of the kumbaya trope (used by right wing cynics who believe it to symbolize a naïve world view) is the “rugged individual”, their
own naïve world view.
Lastly, since SS was never intended as sole retirement income, investing the equivalent (roughly 6%) of FICA from personal income is a great idea to
have retirement funds beyond SS! Some people have that much to invest, many don't. For too many, every cent of income goes towards expenses. In the
current US economy driven by consumerism, the latter seems the expected.