Friday, March 25, 2005

Your sink is clogged, we have to

tear down your house.

It's an ad on TV right now from the AARP talking about Social Security Reform. Their position is that the system needs reform but trashing the whole thing is like tearing your house down when the sink gets clogged.

Given what I know (which is obviously not complete from a fact perspective and from an accounting lack of experience - accounting, wherein one plus one does not necessarily equal two) I can see where they're coming from. If young people put their money into the President's individual account plan then there won't be as much money in the pool itself for older people currently getting benefits to draw from. So benefits will likely drop. Bad for people on it. However over time the situation should improve since the money people put into the program will be ear-marked for them (theoretically, however I don't plan on trusting the government with MY future).

I don't trust the President, I believe that his plan for Social Security is only intended to give his cronies on Wall Street a bone in the form of bunches of Federal money. The general idea that the money you put into the program is tagged for your retirement strikes me as a good concept in principle, however I believe the government and modern politics will munge it up royally. His plan is as short-sighted as most of the rest of American business practices. However their ad didn't propose any alternative and anything I've seen is nearly as short-sighted as the President's plan. A lose-lose proposition.


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