tag:blogger.com,1999:blog-8213262.post1040011914301050009..comments2024-03-25T07:29:08.216-04:00Comments on 2 Political Junkies: Hell, Yea!Mariahttp://www.blogger.com/profile/10439330154875628083noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8213262.post-86213580466301328122010-09-23T09:58:31.638-04:002010-09-23T09:58:31.638-04:00There's a logical inconsistency in the privati...There's a logical inconsistency in the privatization (or personalization) of Social Security. We should all know that the social security tax collected from current workers is supporting currently retired persons. Now, if new workers, that is people just exiting college or high school do not pay into the system, that means there will be shortfall in Social Security tax revenue to cover the newly retired, people who have just exited the workforce. Now, in fact the ratio of the number of workers paying Social Security to the number of retirees receiving Social Security has been dropping anyway, but personal accounts will make things much, much worse. <br /><br />Plus personal accounts will be a windfall for someone, either some pension management companies, investment management fund companies or traders on Wall Street, I dunno. Plus there will be the need to fit government retirement fund rules designed to protect people to the vagaries of the market - how much would people be able to move their money, how much commission or transaction fees could be charged, how would market information be made available, and of course what would happen if the market experienced a sharp downturn. <br /><br />It surly pisses me off that Conservatives/Republicans are able to sustain an incoherent narrative that the market is superior to government regulation in all matters. Acid rain was not going away until the government regulated emissions from coal fired power plants. You know, there is a hell of a long distance between protecting the environment protecting consumers from corporate malfeasance and trying to moderate the worst swings of the economy versus the government owning everything. You know that if banks and the auto industry had gone into bankruptcy conservatives/Republicans would be screaming about how incompetent Obama and the Democrats are. Of course, since instead Obama and company prevented that, conservatives/Republicans are screaming about government takeover of the financial and auto industry (even as banks have record profits and bankers pay themselves record bonuses). Obviously what is bothering conservatives/Republicans is that there are elections and votes in Congress and taxes to pay. Things would be much simpler if the rich told us who the President and our Congress<i>men</i> are, and how much we should pay in taxes to them.EdHeathhttps://www.blogger.com/profile/09109361235271107574noreply@blogger.com