Why Privatizing Social Security is Bad
1. Today’s insurance to protect workers and their families against death and disability would be threatened.
2. Creating private accounts would make Social Security’s financing problem worse, not better.
3.Creating private accounts could dampen economic growth, which would further weaken Social Security’s future finances.
4. Privatization has not worked elsewhere.
5. The odds are against individuals investing successfully.
6. What you get will depend on whether you retire when the market is up or down.
7. Wall Street would reap windfalls from your taxes.
8. Private accounts would require a new government bureaucracy.
9. Young people would be worse off.
10. Women stand to lose the most.
11. African Americans and Hispanic Americans also would become more vulnerable under privatization.
Source: The Century Foundation (Click Link for a full explanation of these points)