I can't cite the source since I was listening and not watching (and paying close attention) to some news show, but someone said that in his memoirs, FDR said he envisioned SS to be a private investment program (like Chile's I guess) once it got going.
WRT Bush's plan, its sounding like a real rip off. I heard from Bill Maher that the government could invest this money on our behalf and write the rules so brokerage houses dont screw people, but as payback to them Bush will try to make these accounts "personal and private" so that we can get gouged. And then I just heard the accounts won't really be ours (they wouldn't be anyway, they're government mandated), but that accounts that make too much money will have profits diverted back to the government. In other words, we can take a loss but the state gets rewarded if we make too much.
Anyone else know about this stuff, is it true?
WRT Bush's plan, its sounding like a real rip off. I heard from Bill Maher that the government could invest this money on our behalf and write the rules so brokerage houses dont screw people, but as payback to them Bush will try to make these accounts "personal and private" so that we can get gouged. And then I just heard the accounts won't really be ours (they wouldn't be anyway, they're government mandated), but that accounts that make too much money will have profits diverted back to the government. In other words, we can take a loss but the state gets rewarded if we make too much.
Anyone else know about this stuff, is it true?
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