President Bush has appointed his study commission for Social Security reform, and the Democrats aren’t particularly happy about it. Who can blame them? One of their principal election vote-buying tools could be taken away!
What are the Dems afraid of? Privatization. They are afraid that people might actually end up with their own private Social Security accounts that aren’t subject to being taken away by evil politicians!
Those of you with a room temperature IQ or better know how Democrats have been using Social Security for decades. Before each and every federal election – usually just days before – Democrats start bleating that evil Republicans are poised to “take away your Social Security benefits” if they get the power to do so. Anxious wizened citizens – who frankly care about little else on a national scale – rush to the polls to keep their Democrat friends in office so their Social Security checks will keep arriving on schedule.
So – where is the danger from any privatization? It’s not hard to figure out. If you have your own private Social Security Account … you will know just how much money is in your account, how much is being earned, and what type of benefits those funds will generate at your retirement. It’s yours! It’s a private account! It can’t be taken away! If it can’t be taken away, then how are the Democrats going to frighten you with the loss of your Social Security just prior to each federal election?
I’ll make it simpler.
Private Social Security accounts create independent workers, near retirees and retirees. Independent people don’t need to rely on politicians to protect their retirement income. Independent people don’t need Democratic politicians.
So .. how does the public feel about the idea of privatization?
A Zogby poll taken last year shows that 69.3 percent of Hispanics would like to be allowed to "invest at least part of their money" in their own investment accounts.
A plurality of 45 percent of blacks--and 55 percent of blacks under age 50--told the Joint Center for Political and Economic Studies that they supported Dubya's plan.
A United Seniors Association poll found that 82 percent of senior citizens over age 60 think it's very important or important that their
children and grandchildren "have private retirement accounts to get a better deal."
Clearly this is an idea that has widespread appeal. So how do the Democrats attack it? Simple: They prey on Americans' fear of all things insecure. Dick Gephardt used the recent volatility of the Nasdaq stock index to make his point that, if you'd invested money in Social Security a year ago, today you'd be better off than if you'd put that same money into the Nasdaq.
How silly is that argument? Apparently everyone except Dick Gephardt knows
that investing is a long-term activity. Okay, so the Nasdaq hasn't been doing well over the past year. But look at its growth over the last 10, even 20 years! You can't judge the Nasdaq's overall performance by looking at one year's worth of data.
What Gephardt and the Democrats want you to think is that it's risky and irresponsible to invest in such a turbulent stock market. There's no guarantee you'll come out ahead. Just keep giving all of your money to Social Security and your Imperial Federal Government will take care of the rest. It's so easy, isn't it? Leave the thinking to the government--there's no need for you to do all that investing yourself.
Remember – the Democrats have their own idea of Social Security reform. That idea is to relieve a huge number of middle and lower income Americans of any responsibility to pay for their Social Security benefits. They want to use “tax reform” to make upper income Americans pay all of the Social Security and Medicare taxes for the rest. Then the Democrats will not only be able to frighten voters with threats that their Social Security benefits are in jeopardy --- they’ll be able to warn voters that a vote for a Republican might mean that they’ll actually have to start paying Social Security and Medicare taxes again!
Which reform do you want? Democrat or Republican? Or --- how about Libertarian?
What are the Dems afraid of? Privatization. They are afraid that people might actually end up with their own private Social Security accounts that aren’t subject to being taken away by evil politicians!
Those of you with a room temperature IQ or better know how Democrats have been using Social Security for decades. Before each and every federal election – usually just days before – Democrats start bleating that evil Republicans are poised to “take away your Social Security benefits” if they get the power to do so. Anxious wizened citizens – who frankly care about little else on a national scale – rush to the polls to keep their Democrat friends in office so their Social Security checks will keep arriving on schedule.
So – where is the danger from any privatization? It’s not hard to figure out. If you have your own private Social Security Account … you will know just how much money is in your account, how much is being earned, and what type of benefits those funds will generate at your retirement. It’s yours! It’s a private account! It can’t be taken away! If it can’t be taken away, then how are the Democrats going to frighten you with the loss of your Social Security just prior to each federal election?
I’ll make it simpler.
Private Social Security accounts create independent workers, near retirees and retirees. Independent people don’t need to rely on politicians to protect their retirement income. Independent people don’t need Democratic politicians.
So .. how does the public feel about the idea of privatization?
A Zogby poll taken last year shows that 69.3 percent of Hispanics would like to be allowed to "invest at least part of their money" in their own investment accounts.
A plurality of 45 percent of blacks--and 55 percent of blacks under age 50--told the Joint Center for Political and Economic Studies that they supported Dubya's plan.
A United Seniors Association poll found that 82 percent of senior citizens over age 60 think it's very important or important that their
children and grandchildren "have private retirement accounts to get a better deal."
Clearly this is an idea that has widespread appeal. So how do the Democrats attack it? Simple: They prey on Americans' fear of all things insecure. Dick Gephardt used the recent volatility of the Nasdaq stock index to make his point that, if you'd invested money in Social Security a year ago, today you'd be better off than if you'd put that same money into the Nasdaq.
How silly is that argument? Apparently everyone except Dick Gephardt knows
that investing is a long-term activity. Okay, so the Nasdaq hasn't been doing well over the past year. But look at its growth over the last 10, even 20 years! You can't judge the Nasdaq's overall performance by looking at one year's worth of data.
What Gephardt and the Democrats want you to think is that it's risky and irresponsible to invest in such a turbulent stock market. There's no guarantee you'll come out ahead. Just keep giving all of your money to Social Security and your Imperial Federal Government will take care of the rest. It's so easy, isn't it? Leave the thinking to the government--there's no need for you to do all that investing yourself.
Remember – the Democrats have their own idea of Social Security reform. That idea is to relieve a huge number of middle and lower income Americans of any responsibility to pay for their Social Security benefits. They want to use “tax reform” to make upper income Americans pay all of the Social Security and Medicare taxes for the rest. Then the Democrats will not only be able to frighten voters with threats that their Social Security benefits are in jeopardy --- they’ll be able to warn voters that a vote for a Republican might mean that they’ll actually have to start paying Social Security and Medicare taxes again!
Which reform do you want? Democrat or Republican? Or --- how about Libertarian?
