| Social Security - 5 The real strategy behind privatization of Social Security is to immerse millions of people into the stock market so that they will balk when it comes time to hold corporations accountable. |
| In presenting its plan to let working Americans divert part of their payroll taxes into private retirement accounts, the Bush administration now says the proposal will do nothing to solve Social Security's financial problems.
Source: "Working Out The Numbers" by Eduardo Porter -- New York Times - 2/6/05 So if the private account scheme won't solve Social Security's fiscal problem, why is Bush pushing for it so hard? What is the real advantage to Bush and his cronies in an "ownership society?" It's difficult to convince someone that it's a good idea to force corporations to do the right thing when his retirement funds are tied up in their stock! Want to see the corporation that you "bet on" with your Social Security account held accountable for larceny, environmental degradation, dangerous and shoddy products, etc.? If you find yourself invested in an unscrupulous corporation, suppressing those types of investigations may benefit you. But the people who REALLY benefit are the wealthy investors and corporate executives that own a lot more of that stock than you ever will. Once again, a scheme to make the rich richer at the expense of the commonwealth by the Republicans. |
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| Comments | Contributor | Date Submitted |
| Good point. I hadn't thought of that connection, but it seems quite valid. | Linda Denton |
2/4/2005 |
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