Brian Carlton - 3/1/2005 9:33 PM
Botnst - 3/1/2005 12:39 AM
Life without risk is death.
Your knowledge of this administration's plan or plans is deeper than mine. I make no assumptions as to their plans. Congress writes plans, not the administration. Write your congressional delegation if you wish to voice your opinion. The prez doesn't care, he's has no more elections to face, no more fundraisers necessary and because he was elected with a clear majority, he could give a shit what the minority says. In contrast, your congressional delegation most assuredly does care. Bend their ears.
With private investment there is a probability of some unknown (but estimable) magnitude that private investments will fail.
With SSI there is complete certainty that no wealth will accumulate to the payee from his payroll contribution. It is owned and spent by the State.
Do you have any investments aside from SSI? (I assume that the answer is yes). Why, if you think the risk is so great that poor folks should not control their own financial destiny, do you risk your own? If you believe in equality, why not afford them the same opportunity you and Rockefellar have?
First of all, this administration absolutely has an agenda when they propose privatizing social security. It was proposed by the administration and there is certainly a hidden agenda that would benefit someone that the administration favors. Do you really believe that the administration is proposing this scheme out of the goodness of their collective hearts? The congress would have no part of privatization without the push from the administration. This I can assure you.
Comparing myself to the average american citizen is not a good exercise. I'm not sure if you are aware of this Bot, but, the average american is a total moron. Given half a chance, I'm very sure that they would squander the funds that they put into the program, unless they were severely restricted into exactly which investments they could select. If this were the case, then I would not be opposed to it. But, to let Mr. Average American control tens of thousands of dollars of retirement money seems ridiculous.
As KV has mentioned, SSI is an insurance policy whereby payment is guaranteed. I do not see this happening with private investment.
It has nothing to do with poor folks or myself. It has to do with whether the individual has the knowledge to properly invest a large sum of money without putting it at great risk. As we have recently seen, people that are a whole lot smarter than I am ended up on the short end of the stick with stock investments. You think Mr. Average American will stand a snowballs chance in hell?
The reason not to afford them the same opportunity as Rockefeller is that they cannot afford the loss if the investment turns south. Simple as that.