From a press release issued by Nationwide Insurance:
Despite widespread political divisions, Americans across political party lines largely agree that Social Security needs reform. According to the Nationwide Retirement Institute's 2026 Social Security Survey, 80% of U.S. adults who receive or expect to receive Social Security say the system needs to change, including 82% of Democrats and 78% of Republicans.
The agreement extends to potential solutions. The same three proposals were ranked as the most popular approaches to strengthening Social Security among both Democrats and Republicans:
- Increase taxes on higher earners to increase funding: 51% overall, including 56% of Democrats and 43% of Republicans
- Increase funding through taxes paid by employers: 42% overall, including 44% of Democrats and 42% of Republicans
- Reduce or eliminate benefits for individuals with incomes above a certain threshold: 38% overall, including 38% of Democrats and 37% of Republicans.
These corporations have an angle and they want to push the privatization narrative at SSA. This survey needs additional attention and will therefore put in my super secret circular file. 🗑️
ReplyDeleteNationwide Mutual Insurance Company faces a major class-action lawsuit from employees alleging that its 401(k) plan overcharged them by utilizing an affiliated stable value/guaranteed investment fund with less favorable terms than external options. A federal court scheduled a bench trial after denying Nationwide summary judgment.
The stock market has gone up only like 900% since 2000. Now I’m no math major but seems like if we put Social Security into it our “solvency” crisis would be solved.
ReplyDeleteYou go ahead and invest your money in this AI bubble. 🎈
DeletePast performance does not guarantee future results" is a standard regulatory warning meaning historical financial returns or success do not ensure similar outcomes ahead. Markets shift constantly due to unpredictable economic factors, and assets that performed well or poorly can suddenly change course.
During the Great Recession, the S&P 500 plummeted by approximately 57% from its pre-crisis peak in October 2007 to its trough in March 2009.
DeletePeak and Trough Details
Peak: Around 1,565 points (October 2007)
Trough: Around 676.5 points (March 9, 2009)
Total Decline: ~57%Recovery and Impact
The market downturn lasted roughly 17 months.It took nearly four years (about 895 trading days after the official end of the recession) for the S&P 500 to fully climb back to its previous peak level.
So now there will be a warning with every FICA deduction?—- “investments are subject to risk and may lose value“. You’ve got to be kidding me – lol.
DeleteIf SSA invested trust fund dollars in stocks, who would decide which stocks to buy? What influence would the US government exert on the companies as a major shareholder? How would they decide what to sell when they needed funds, and how would those decisions influence the broader market? How do you sell a massive government purchase of corporations to Americans, who by and large are opposed to socialism?
Delete