20Sep/11
Privatizing Social Security
While the new congressional committe on debt reduction - or whatever incredibly dumb and political name they came up with happens to be - is considering the economic future of the United States of America, the Republican primary campaign season is in full swing. Between those two things, we have a lot of focus on the spending of the United States government. Whether you think that the government should keep spending levels high to stimulate the economy or not, the government undeniably has a lot of things it does need to spend money on. One of those is Social Security.
Now, some of the Republican Candidates and most of the right-wing media franchises refer to Social Security as an entitlement. And, well, it is. As an American who has paid into the program, you are entitled to receiving the benfits from it. You paid for them. You really, really did. And it is 100% fair for you to receive them. When the politicians reduce the benfits, that you have already paid for, they are taking money away from you. Away from me. Away from all of us. Remember, by the time you receive these benefits, you have paid for them.
The Republican party wants us to believe that Social Security is an untenable program. It's a Ponzi Scheme - a monstrous lie. Well, it isn't, but even if we were to listen to them, their answer is to get rid of Social Security (thus stealing the money you and I have paid into it) and "privatizing it." They say this is a good thing because the private retirement planning can do a better job of supporting retired Americans than the United States government. But, is it?
Now, like many of you - those who have been fortunate enough to stay employed, at any rate - I have a 401K. While I appreciate that Social Security exists, I'd like more. Now, like many of you, my 401K has tanked these last few years. You see, what happens to the money in a 401K is that it gets put into mutual funds and Wall Street mutual fund managers, who don't really know more than anyone else, take lots of these little amounts, and play with a billion dollar investment portfolio. But, if you've paid any attention to the economy, you know as well as I that these jokers are fail. These jokers are the people who bought the toxic mortgage-back-securities just before the economy crashed! Now, maybe it's just me - and I suspect it is not - but I don't want my livelihood in my later years handed solely to the moron investment bankers on Wall Street who seem to be really good at only one thing - paying their own bonuses.
Social Security needs some small tweeks to maintain its solvency - which is already assured for the next 25 years. We don't need to dismantle it. We don't need to privatize it. And we should oppose any measures - and any candidates - that seek to do so.
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Tagged as: politics, social security
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