My position statementMy position is that social security should not be privatized because the economic impact to individuals and the nation is enormous.Economic argument against my positionA number of Economists support the ideology of social security privatization for various reasons. First, there is a general argument that Social Security is not an investment system (Estes 10). Thus, workers invest their money for a considerable period of time with very limited returns from this form of saving. Secondly, the current system tends to limit an individual's ability to commit these savings to various investment platforms that would lead to improved returns. (Idemoto 1). On the contrary, the current system grants exclusive investment rights to the government. Thus, privatization will offer individuals the opportunity to control their investments and diversify their investment portfolio from their savings. Smart investments by individuals will produce higher returns. There is a general idea that the investment market will continue to grow in a near exponential trend. Privatization will also reduce taxes for individuals and businesses (Idemoto 2). Current personal and corporate taxes tend to be exorbitant. When Social Security is privatized, individuals no longer have to pay favorable taxes associated with Social Security (Adam 2). In this case, privatization means that individuals make their retirement investment decisions rather than having the government or an organization make those decisions for them. Employers will also no longer have to pay these enormous social security contributions. Additional contributions paid to an employee by these organizations will no longer be a regulatory requirement...... middle of paper ....... change of social status, discrimination against women, the injured and the disabled , bad investment, and the long-term decline of stocks generates returns when evaluated from the perspective of inflation-adjusted returns. Therefore, social security should not be privatized. Works Cited Adam, Antonis. “Macroeconomic Effects of Social Security Privatization in a Small Unionized Economy.” CESifo Working Paper 1371 (2004): 1-16. Print.Estes, Carroll L. “Social Security Privatization and Older Women: A Feminist Political Economy Perspective,” Journal of Aging Studies, 18 (2004): 9-26. Science Direct. Internet. April 7, 2014. Idemoto, Steve. “Privatization of social security in Chile”. Social Security (2008): 1-7. Online Economic Opportunity Institute. Internet. April 7, 2014. Williamson, John B. Privatizing Social Security: Lessons from the United Kingdom. Boston: Center for Retirement Research. 2000. Print.