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It's called social security for a reason. The politicians are itching to hand the pot of money over to Wall Street who will extract fees from it.
by crdoconnor 10y ago
It's called social security for a reason.
The politicians are itching to hand the pot of money over to Wall Street who will extract fees from it.
- sigstoat 10y agoas though the social security administration has no costs associated with its operation? i'd put my vanguard expense ratios up against the ssa's effective expense ratios any day of the week.
- avn2109 10y agoWhen Bush the younger tried to privatize SS in the early 2000's as a favor to his cronies, he made sure the defaults were e.g. John Hancock at 2.4% fees. With effort you could have run it through Vanguard but most people are confused by investing and would have ended up being robbed in broad daylight by borderline criminal "asset managers."