A simple reason why Bush's SS plan is stupid

[Ned]

To the extent Bush's support of an ownership society is social engineering, I support it. Apparently, many Democrats oppose it.

[Patroklos]

Remove the income cap loop hole on Social Security taxes so that everyone pays the same flat tax on all earnings.

Impossible because of the Republicans, and the flat ax is impossible because of the Democrats. And if we flat tax this, we should flat tax everything.

Raise the retirement age

Impossible because of the Democrats.

[Kidlicious]

Originally posted by Ned
To the extent Bush's support of an ownership society is social engineering, I support it. Apparently, many Democrats oppose it.

When you go around dogmatically privatizing everything just for the sake of creating some utopian ownership society then yeah you are going to get opposition. Some people don't beleive you are trying to create a utopia as much as you are just trying to justify ownership and create politcal atmosphere.

[Ned]

Originally posted by Kidicious


When you go around dogmatically privatizing everything just for the sake of creating some utopian ownership society then yeah you are going to get opposition. Some people don't beleive you are trying to create a utopia as much as you are just trying to justify ownership and create politcal atmosphere.

Utopia? What does that mean to you: no one owns anything and everyone depends on the government for everything?

[Kidlicious]

Originally posted by Ned


Utopia? What does that mean to you: no one owns anything and everyone depends on the government for everything?

I don't believe in Utopia.

[Dinner]

Originally posted by Ned
And, Shawn, just to minimize risk, I would have the private accounts invested in equal portions in equity markets, real estate and bonds, with no discretion to the public. This should make management simple and not that expensive.

If low expenses are your goal then simply have the whole fund invest and manage as one fund instead of 200 million seporate little funds. You'll have the muscle to demand huge reductions in prices and fees since you'll be the largest fund on the planet plus you can contrl what the fund invests itself in. It just doesn't make sense to break it into 200 million little funds since you will have to pay 200 million times the management costs.

[Ned]

Oerdin, 200 million shares in one account. That is what I think makes sense.

[Odin]

"Ownership Society" is code for making the economy even more a slave for conspicuous consuption than it already is so corporations make even more profit and encouraging people to go into deeper and deeper debt. basically the makings of another Great Depression.

[Ned]

Originally posted by Odin
"Ownership Society" is code for making the economy even more a slave for conspicuous consuption than it already is so corporations make even more profit and encouraging people to go into deeper and deeper debt. basically the makings of another Great Depression.

Talk about conspiracy theories!