Need4Speed750 said:
so we'll be paying into this new account, similar to how we do it now? but how do we keep the govn hands out of it in the long term if they found there way into b/4 , couldnt they do it again?
The money you put into FICA now would go into your own account. The money you're paying now goes into a gigantic pot, and the people that are 65+ get that money. Then, when we turn 65, in theory the younger generation would be paying for us. Obviously that's not working.
So, we get our own private accounts and collect interest and it works out for everyone in the equations.
I haven't read up that much on it, so I don't know the specifics of when it's to start, etc.