Here is our experiment.  If instead of being taxed 10,000 dollars a year in social security you got to invest that money, tax free, in stocks which earn an avg of 8% (that is mixing small corps and large corps) over 30 years you would earn $1,233,458.68.  That's right, the amount of interest that you would have earned is 923,458.68.  That is practically a million dollars in interest.
Lets say you invested that money in mixed bonds (corporate or gov't treasury) and stocks, say 50/50.  So 5% interest instead of 8%.  You earn over 30 years 707,607.9.  That's still pretty good.  The best the feds can do is 2.2% over 30 years and that would get our country, not you personally because you don't have control over your payroll tax, 437,845.35.  Also keep in mind that only the first set of your 30 year matriculating t-bonds are not going to be fully mature by the time you want to retire in 30 years.

The bottom line is this - would you rather have nearly one and a quarter million dollars when you retire and leave the economy in good shape? That is assuming you retire at 65 and live until 80 an avg monthly income just from your account of $6852.55 ($82,230.60 a year)- or would you rather have the maximum monthly Social Security retirement benefit for a worker retiring at the full retirement age of 65 years and ten months which is $2,185.

Btw all these numbers are real numbers - that means they have been adjusted for inflation.  Inflation has been taken care of.   We still have a problem though - that 8% is an avg.  Some people will win and others will lose - also can the avg working man handle his own investments?  How should we coordinate privatized Social Security so that it is just that - secure?  This makes for a fun discussion - tune in next time.

Also - Heads up I am waiting for a reply from, the Head of the SMU Economics Department, Dr. Kamal Saggi.  I hope he can shed a little light on why free trade is good.  After he explains why free trade is good I am going to look at McCain's, Clinton's and Obama's voting records on free trade, and evaluate the candidates stances on that issue via their campaign speeches, promises and rhetoric.  Dr. Saggi will not be a part of the political aspect of this, only explaining the non-controversial (this is one of the few things virtually all economists agree upon) nature of why free trade is good.  His opinions on politics are his own and will not be shared, implied, or disclosed on this blog - and for the record I don't even know what they are and I am not going to ask.