Sunday, February 27, 2005

Private investing, Bush go way back

Private investing and G. W. Bush go way back.

So do these ultra-right think tanks that still think FDR was a Communist, it seems.

Look, you are supposed to save for your retirement already. What nincompoop thinks Social Security is supposed to be all they have waiting for them when they get the gold watch and the boot?

Social Security is supposed to be the emergency funding there to keep you alive if your savings and investments go belly up, as almost everyone's did (through no fault of their own) in the 1930s.

If Bush wants to subsidize people to save money for their retirement, I have no problem (other than the fact that it might increase the deficit, but the real culprit there is his tax cuts.)

When he talks about putting part of the payroll tax into the stock market or other risky investments, he just means doing away with the Social Security program, an emergency backstop for the poor.

Bush may not understand it, but the New Deal saved capitalism. Do away with it and you will have very serious economic, and political, problems again.

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