What is private socialism?

Dangerous. Privatized Social Security means the contributions would be paid to, and the funds managed by, one or more private investment firms, rather than managed by (and backed by) the federal government. The investment company would be run on a for-profit basis (which the federal government does not do), meaning investors would make money from ordinary workers' contributions, a practice with a built-in conflict of interest detrimental to the worker.

If Social Security had been privatized when the Stock Market crashed in 2008, it would have been disastrous.

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