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So what's your position on Bush's efforts to reform social security?

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Ant:

--- Quote from: Woodrow on January 21, 2005, 06:26:50 PM ---
--- Quote from: Ant on January 21, 2005, 05:05:12 PM ---how's your career going bigot? you have to actually get a decent job before you can care about Social Security.

--- End quote ---

Typical left-wingers. Want equality, but anyone who doesn't share their views shouldn't get to express themselves.


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I don't believe in the equality of opinion.  I believe in equal rights.  There is no such thing as individual equality some peopel are superior to others, and some arguments are superior to others.  But if you want an analysis of why your opinion on SS reform is inferior Krugman has addressed the issue thoroughly in a few NY Times editorials... But i'll give my 2 cents.

The Bush plan for SS reform is to privatize part of the system, and allow people to have private accounts.  The cost to transfer to this system is 2 Trillion dollars. 
Now ignoring the problems with this decision, and the fact that there really is no SS crisis, it should be blantantly obvious why this is a foolish plan.  The Bush Plan is  to borrow money, and invest it into the stock market hoping the returns exceed the costs.  If you really like this plan you don't need to have it imposed on all of America  you can create your own mock version of the Bush SS plan. Go out, and borrow 100,000 dollars today, and invest it into the stock market and call it your retirement plan. 

This is essentially what Bush wants to do, except he isn't forcing you to go out to the bank and borrow, instead, he is diminishing the value of the money you give the government in the form of tax-dollars by borrowing 2 trillion dollars on top of a record setting deficit.  This would add another 200 billion dollars in debt each year onto our current deficit, driving the deficit to around $700 billion per year, or 6% of GDP.  Currently, the deficit runs at about 4.4% of our GDP.  In other words, under Bush about 5% of our national economy is supported by the deficit.   It certainly doesn't seem financially prudent to drive that number higher by implementing a plan that is akin to borrowing to invest in the stock market.

BigBDrugStores:

--- Quote from: Thul Hijjah 1425 A.H. on January 20, 2005, 01:37:09 AM ---It's like rolling the dice with your retirement plan

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well ss was never a retirement plan. fdr never thought of it as a retirement plan. it was designed as a little suplement tohelp folks get by durring the depression. so if ss is your retierment plan you better get a roth ira.

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