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"We have 5 years until Social Security is bankrupt." David david friedberg on why Brad Gerstner's (Brad Gerstner) Trump Accounts for children are great for America: "The idea is right. It's a 401(k) for everyone." "Social Security needs to flip into being a 401(k) for everyone, tomorrow." "When you... show more
48,378 görüntüleme • 2 ay önce •via X (Twitter)
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"If the federal government is now going to go and set up a private equity account, a sovereign wealth account to buy assets in private companies, I personally don't love that." "I don't love that America is suddenly going to become public-private. That's not my free market belief." "But if they do that, then all of those shares can get distributed to those accounts, and we could flip Social Security tomorrow into that system and expand it in that way."

@friedberg @altcap one of the solution they offer is capital gains tax ( which everyone freaked out about ) maybe David should be talking less and reading / listening more about policies they put forward

@friedberg @altcap I’ve been hearing this for 20 years.

We got into the Trump Accounts angle on this same idea on our podcast this week ($50K at 18, growing to $1M by 55 if left invested). Pete Kadens' pitch was builders over bureaucrats, an ownership society where people are incentivized to see businesses succeed, not just collect a check. Full clip:

I think that right now I support privatization of social security because without foreign sovereign wealth funds the US would go into austerity from government spending. Even if it's the bond market they need to structure the social security where it's bailed out from the printer.

@friedberg @altcap Soc Sec bankruptcy imminent.... they been spewing this nonsense for 30 years. Govt will just brrrrr print like they always do.

@friedberg @altcap i've been supplementing my elderly parents income with income producing options (covered calls and sell puts) which pays out way way more than social security. only issue is the high taxes they have to pay as they live in California.

@friedberg @altcap Why not make factories, that make essential products for people survive and develop? Instead of making money to give to people... Is this just to mantain the market model? Is this worthy?

@friedberg @altcap Pretends to be freedom guy, but always comes back to how government should being doing more. Confuses the problem with the solution. Hopeless.

@friedberg @altcap Hey David, pension plans aren’t going anywhere. But I do agree with you on social security.

@friedberg @altcap Raise the cap on social security and it’ll be just fine.

@friedberg @altcap YES!!!

@friedberg @altcap

@friedberg @altcap Social Security has had 5 years for the last 20.

@friedberg @altcap feel like with time our pension funds should be fine due to ai bringing in insane gdp we could have pension funds for 3-4 agents per person. thoughts on this molly?

Friedberg and folks like him is the reason we have CA in the state it is today. They turned a blind eye to all the crazy socialist policies for many many years. Now that CA is coming after their wealth they have started whining. He is not wrong now be was wrong in the past. Time to come clean... And vote your feet. Socialists dont care about builders.
