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Should Social Security Disability Insurance Be Privatized?
Posted in: Social Security Disability on September 27th, 2011

social securityThose who have an astute political memory might recall that during the years of the Bush administration, it was suggested that Social Security have an option for privatization. The idea behind this was to ensure that individual workers could control where their Social Security benefits would be invested and held. In the end, this initiative did not take root due to concerns over Americans who make very little money. It was said that the privatization of Social Security would favor the rich over the poor.

Yea or Nay?

Now that it is 2011, there is another debate regarding Social Security Disability Insurance. In the modern era, many experts are wondering whether or not it would be advantageous to make Social Security Disability Insurance a privatized entity. The idea behind this is that Social Security Disability Insurance as it stands is already set to become a bankrupt institution by 2014. There is a chance that, by allowing individuals to privately decide where their taxes, that fund Social Security Disability Insurance, are invested, the program might have a longer shelf life.

Of course, this raises the same problems that were never addressed by the original push to privatize regular Social Security. It also does very little to address the needs of individuals that are already in the program. What do you think about privatizing various forms of Social Security? Would this ultimately end up saving the program, or creating more problems than it solves? These are the issues that need to be tackled in regards to figuring out the future of this program and protecting the livelihoods and health of those who rely on disability payments.

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