Social Security reforms
What type of Social Security reforms are pending? I support privatizing the Accounts of every Americian Citizen 'who directly paid into the ...more »
What type of Social Security reforms are pending? I support privatizing the Accounts of every Americian Citizen 'who directly paid into the fund' and every benefit-receipient collecting on deceased spouses who also paid in then died without collect THEIR MONEY, and those who paid in then became diabled. And those who Law decided (under 18 heirs) were receipient of deceased taxpayer.
If the Government "opened bidding to the top insurance companies in the nation," those companies must be backed by an INSURANCE (like FDIC Protections) for every CITIZEN who selects this option. Annuities for those collectioning now and 401Ks (or other saving like products), for those still under retirement age.
This would require a new census Nation wide to PROVE citizenship and number of years in the program. Each person who selects this option would be audited to prove they are who they claim to be, are a resident, and citizen. This NEW CITIZEN SYSTEM,(ie. NCS), would be audited and proof of same sent to the holder and the company selected, (or top 5 oldest companies.) Since there are so many in the system perhaps you could select perhaps sectors of coverage so that several companies could manage the large numbers. I would think you could get backing for this.
However; I do not support the Government doing anything other then providing an Insurance for full coverage at lowered amounts for all collectiong SSI and tie it to Medicare Medicaid allowing full coverage for retired Americians. The government SHOULD NEVER be allowed to BORROW from these funds - ever!
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