Ernst right on Social Security fix

In November, I shall vote for Joni Ernst for one reason. She favors the partial privatization of the Social Security system, the only rational way that I know of to save retirement for seniors. If the subscriber has a good financial adviser and the stomach not to panic during down periods, there is no better way to make money.

Partial privatization is nothing more than allowing 5, 10, 15 or 20 percent of one's Social Security withholdings to be put into a fund under one's own name and Social Security number. Congress could not touch the fund.

The private funds would likely consist of stocks and bonds from nearly 600 different companies. Critics say that Joe Public would be giving his or her retirement money to the stock market, where it would be lost. Absurd. A subscriber would lose all of his or her money only if all those companies went belly up. Could it happen? Theoretically, yes. But short of the worldwide collapse of the capitalist system, forget it!

The funds would probably consist of shares. Each contribution would buy more shares. The number of shares cannot go down unless the subscriber sells them and no money is truly lost unless the share is sold for less than the subscriber paid for it.

Iowa, don't be afraid of losing your shirt. Vote for Ernst.

Steven Bristow

Cedar Rapids