Shame on Social Security
Social Security funds are here to bail out Wall Street. Financeers have waited a long time for this day to infuse new life into the financial economy. Now, all of our dollars will allow them to make more for themselves and move their money into other investments. This is all short-term and quite disturbing since we'll market rebound and hear about how our economy is "heating up" and other lies as trillions of dollars float the economy for a while until the harsh reality that it's not anything substantive happening but just another change of the window dressings.
What needs to happen? Keep SS funds in government accounts, out of the hands of brokers. Fix the economy by re-investing in the disintegrating roads and rails and by making money available to states, municipalities, and certain coporations to begin building public works (including museums, libraries, and other FDR-esque projects). You can't make private industry prosper, but you can lay the groundwork for it to take place and as a result provide jobs for people to support themselves, their families, and their futures.
posted by Nick @ 12:58 PM
2 comments
2 Comments:
I say those who don't want Social Security (an unconstitutional, obsolete stop-gap service from your friendly federal government) should not have to pay in in the first place, much less have the money that is rightfully theirs placed in some kind of privatized account.
That said, I think it is short-sighted to view the privatization as merely a spike in economic numbers. If these accounts are privatized, then presumably more control of this capital goes back to the person who made the money and if they want to put that money toward mutual funds, stocks or savings or whatever, more power to them.
I agree that boasting about economic progress is deceit, but I see no wrong in giving money that should have never been robbed from every gainfully-employed person in America back to the people. They've earned it.
Speaking of hard-earned money, did you see the federal budget for this fiscal year? It's almost enough to make me go Libertarian!
Regards,
--b.
Good point. But even if the money goes into mutual funds and not just stocks, the effect is the same in that the money props up our stock market and thereby the rest of our "financial economy" (anything like the Chicago Board of Trade/Merc/NYSE/Strong Funds hehe, etc).
I know what you mean about giving a person individualized control over "their own money" but at the same time, I'm looking even further at the likelihood of the stocks dropping in the future as the US economy continues to struggle without any real improvement in a fundamental sense.
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