Social Security Resources [View All]

Twelve Reasons Why Privatizing Social Security is a Bad Idea
The Century Foundation

Reason #1: Today's insurance to protect workers and their families against death and disability would be threatened.

Reason #2: Creating private accounts would make Social Security's financing problem worse, not better.

Reason #3: Creating private accounts could dampen economic growth, which would further weaken Social Security's future finances.

Reason #4: Privatization has been a disappointment elsewhere.

Reason #5: The odds are against individuals investing successfully.

Reason #6: What you get will depend on whether you retire when the market is up or down.

Reason #7: Wall Street would reap windfalls from your taxes.

Reason #8: Private accounts would require a new government bureaucracy.

Reason #9: Young people would be worse off.

Reason #10: Women stand to lose the most.

Reason #11: African Americans and Latin Americans also would become more vulnerable under privatization.

Reason #12: Retirees will not be protected against inflation.

Basic Facts on Social Security and Proposed Benefit Cuts/Privatization
Center for Economic and Policy Research

1) Social Security is Financially Sound
2) President Bush's Social Security Cuts Would Be Large
3) Imaginary Stock Returns Don't Offset Real Benefit Cuts
4) Social Security is Extremely Efficient, Private Accounts Are Wasteful
5) Social Security Pays the Most to Those Who Need it Most
6) The Projected Shortfall is No Larger Than What We Have Seen In Past Decades
7) Young Workers Will Still See Much Higher Wages If Taxes Are Increased
8) The Bush Proposal Phases Out Social Security as We Know It
9) Note on Calculating Projected Benefit Cuts Under Plan 2 from President Bush's Commission to Strengthen Social Security

Social Security & Medicare
Center for Economic and Policy Research

Cutting Social Security for Christians?
Social Security Deception Funded With Taxpayers' Dollars

Privatization fix for Social Security is worse than doing nothing
The Economic Policy Institute

Privatization: the 20-Year Plan Cato/Heritage Plan for Privatization.
Published in 1983 by Cato.

Social Security
Center for American Progress

Mutual Fund Fees: More Evidence that Privatization Schemes Won’t Work