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View Diary: Paul Ryan Using Koch Brothers 1980's $Profit$/Privatization Plot (36 comments)

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  •  i'd like to see a follow up piece on (2+ / 0-)
    Recommended by:
    keepemhonest, Haf2Read

    who favors privatizing SS and why apart from the true believers like kochs.  the vast majority of citizens prefer having separate 401k in private funds and a federal/safe SS fund, even if it pays a little less with the coming boomer boom.

    i suppose there is enough of a wet chops effect on all that payroll money to skim to get the investment and bank community on board.  but it's just not going to happen.  people remember pain better than anything, and the last 4 years of crashed economy was a bank and investment scam & lots of pain.

    'conning those 65 and older into supporting Privatization for younger people'  hits nail on head.  they think the greatest generation will sell out the next one so easy.  Republicans are basically assholes

    paul ryan created the deficit

    by rasfrome on Tue Aug 14, 2012 at 10:45:27 AM PDT

    •  Many younger people used to, pre-2008 (4+ / 0-)
      Recommended by:
      madgranny, emal, rasfrome, Larsstephens

      When the stock market was up, many younger people thought they could make much bigger returns by investing part of the payroll tax.  The crash in 2008 and today's infinitesimal interest rates exploded that myth.  But it was fairly common in 2004-5 to hear younger people with a libertarian bent praising privatization.  Mostly it is the banksters and mutual fund companies who support it, and people whom think that killing SS will fund tax cuts for the wealthy.  Really, the Peter Peterson types are just looking for a pot of money to use to fund more tax cuts, and that is what is behind all the stuff about SS supposedly going bankrupt.  It is no more a Ponzi scheme than any kind of insurance--current premiums basically fund current payouts, with some money in a trust fund"prepaid" to cover future outlays.

      The scientific uncertainty doesn't mean that climate change isn't actually happening.

      by Mimikatz on Tue Aug 14, 2012 at 03:04:05 PM PDT

      [ Parent ]

      •  If Their Long Con Had Succeeded (0+ / 0-)

        Imagine if they had successfully sold this con job in the 1980s or 1990s.

        Where would all those now younger than about 90, who were not "grandfathered" into Social Security be?  And would you want to bet that even their benefits would be oh-so-regretfully cut as "unsustainable"?

        Anyone who thinks this is just about old people doesn't understand the affects on middle class families who are sandwiched between the needs of older and younger relatives.  They get no help from family loans/gifts, inheritances and trust funds.

        Oh, but it's workers fault for not being "financially responsible" enough to build up wealth to pass on!

        Surprise, we live in a Left-Of-Center Nation! Act accordingly.

        by VA Gal on Wed Aug 15, 2012 at 04:40:08 AM PDT

        [ Parent ]

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