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Imagine how much worse--if that's possible--the current economic meltdown would be had McCain and other congressional supporters of such schemes succeeded in privatizing Social Security. Yeah, because we can have faith in an unregulated free market system providing what's best in the interest of both the American economy and the American people.
Imagine how much worse--if that's possible--the current economic meltdown would be had McCain and other congressional supporters of such schemes succeeded in privatizing Social Security.
Wait a minute.............I am still expecting a return from my 401K, while S.S. is going broke within 20 years, with no expected "return".
Where's your logic? Can you possibly be gloating about the "superiority" of this government-run fiasco??????
Remember, the privatization scheme was a Bush idea, and it fell flat on its face, dead on arrival as soon as he mouthed it. His second term was eaten alive by the idiotic war Cheney and the moron Bush got us into. There has been NO meaningful progress these past 8 years, except that the rich got richer - for a while. Now the rich have seen their hedge funds evaporate and their taxes will soon enough go back to where they were 8 years ago. The rest of us are poorer, worse off, still no health care, bridges still falling down, borders still not closed, war still dragging on, Bin Laden still on the loose.... are ANY of YOU better off now than you were 8 years ago....
IMO, privatizing SS was nothing but a way for Bush (and now McSame), to funnel trillions of OUR dollars into the hands of their Wall Street cronies over the next 50 years. Another transfer of wealth from working class to the ruling class. It's time for us to FIRE the ruling class by FIRING as many of the GOP types as we can this year.
McCain is so out of touch, even as Wall Street is crashing down around his ears, he's out there preaching privatization as the panacea to the problem, which is that Congress has pissed away the SS Trust Fund with budget smoke and mirrors for decades. Al Gore's "Lockbox" may have seemed hokey, but his point was lets KEEP the SS Trust Fund money in the trust fund where it belongs, BUT make it OFF LIMITS to congressional spending and budget trickery.
Putting any part of the SS trust fund into Wall Street is going to be a disaster. If we had started this under Bush, it would be a disaster TODAY with all the firms that either are now broke or are breathing their last as we speak.
Wait a minute.............I am still expecting a return from my 401K, while S.S. is going broke within 20 years, with no expected "return".
Where's your logic? Can you possibly be gloating about the "superiority" of this government-run fiasco??????
Did I say that? No. Does SS need an overhaul? Absolutely--and asap. What I said was that had the privatization scheme for SS been passed, we would now have considerably less than 20 years left. We would have, in fact, nothing. The SS funds would have evaporated into thin air, along with the rest of Wall Street "funds."
Did I say that? No. Does SS need an overhaul? Absolutely--and asap. What I said was that had the privatization scheme for SS been passed, we would now have considerably less than 20 years left. We would have, in fact, nothing. The SS funds would have evaporated into thin air, along with the rest of Wall Street "funds."
Wait.........stock market index funds are not headed for ZERO.......like SS is.
Did I say that? No. Does SS need an overhaul? Absolutely--and asap. What I said was that had the privatization scheme for SS been passed, we would now have considerably less than 20 years left. We would have, in fact, nothing. The SS funds would have evaporated into thin air, along with the rest of Wall Street "funds."
Individuals would have what they put into the system adjusted by what the market had done over a longer period of time then just the past 6 months. In addition this would have meant billions flowing into the market and the position of investment firms would have been much stonger as a result of the billions more they would have made from privatization. Perhaps their profits would have been so great they could have weathered this crisis without socialistic government intervention.
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