Tuesday, January 25, 2005

Ignorance

A man who thinks a sky fairy created man now spews right wing talking points about how to being the destruction of Social Security. Peter, as the rest of Social Security destruction movement does, fails to account for how his plan will add money to the trust fun to cover shortfalls, how they will pay for survivor benefits, how they will pay for disability benefits, how they will administer such a plan.

What they are not telling you is that they are doing what corporations are doing, putting all responsibility and RISK on the participant. What will people do if in 10 years we suffer another depression? That wipes out the market and with it the trust.

Peter and the money hungry idiots need to understand something that most miss; social security is an INSURANCE PROGRAM. It is not an investment plan. We have plenty of room in the IRA, 401(K) and 403(b) plans for people to make tax free investments.

This is about providing a safety net to people. Peter plays the game of trying to make people think it is an investment that can be quantified in Wall street terms. He needs to be thinking in Hartford terms. Does Peter want to let 18 year old kids opt out of Auto Insurance? I doubt it, but you never know. He may say if you are wealthy enough, then yes, because they can afford it. I guess that might be who he is looking out. The problem is that he is ignorant and that he is think about money now, and not about security in the future. Bill Gates could die a poor man. I could die richer than Bill Gates. That uncertainty is why we want to provide a safety level of income for EVERYONE to make sure they have a minimum level of income in old age. This is not about Frat boy Johnny spending his extra beer money. This is about the 20 year old shift manage at Burger King building a net to help augment their retirement.

The issue here is the get people saving in their 401(k) and IRA's. If you fear Social Security being gone in 40 years, fear not. If you still fear it, then get your ass saving. That way, as was designed, your PIA will be gravy.

[I have been working on a longer post on SSA. I will continue working on that and try and provide an outline of what BushCo is not telling you about how it plans on destroying Social Security.]

UPDATE: 1:30 PM
- Where's Mine? Clarence Paige asked that rhetorically over 10 years ago as a description of what the average voter was thinking. Based on comment to many people in favor of privatizing Social Security come across as only thinking about themselves. This is what is cause the variation. If you can't think beyond yourself, then you are missing the point. We can't have a plan that fit each person trying to squeeze out a new Benz at retirement. We can't have a plan where you can opt out if you can "afford it" because that is fool hearty.

To also answer a comment who said that my car insurance comparison was flawed because you don't have to drive. True, you don't have to drive. You don't have to earn wages in this society either. If he wants to avoid SS, I suggest he win the lottery and live off the interest for the rest of his life. The minute he is dead broke at age 85, then I wonder what he is going to do?

This sounds like to me trying to make people responsible for maintain their own street or fire department or police department.

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