every so often, the US Gov't will make it possible for certain groups to opt out of SS. Not sure when the last one was, but back in the 70s, my Dad got to opt out. He was/is a preacher, and they gave that option to all clergy (of any religion). He (obviously) jumped at that chance!

So he does not have to pay Social Security for any preaching-related work. He's also a college professor, so he does have to pay SS on that pay check. Every couple years, he gets a letter from the US Gov't. asking him if he wants back in to SS... Yeah, right... Obviously, he hasn't taken them up on their "offer"...

But as a response to the previous whiner, who thinks 20 and 30 yr. olds would be the ones who get screwed w/ a privatization account, I ask you to please wake up. This is the age demographic that stands to make the absolute most out of it. Look up some comparisons, man. Social Security earns a paltry 1% interest rate, tied to Treasury Bills. Heck, my paypal account earns a higher interest rate than that... In the absolute, worst case, long term scenario, the stock market would "only" increase by around 2% annually. Can you do math? That's double the rate of return.

And the best part is, if you feel the private accounts are too risky for you, YOU WON'T HAVE TO OPEN ONE!!! That's right. You'll have the luxery to just leave your Social Security funds sitting at a 1% interest rate, for the rest of your broke-ass life.

Personal accounts are only going to benefit those that use them. For those that don't, they can have the same shitty Social Security checks that we've all grown to love... Either way, if you're counting on this to fund your retirement, good luck to 'ya... That's not what SS was made for, and that's definately not what it is/can do.