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View Diary: Ordinary people losing trust in the economic system - and doing something about it (191 comments)

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  •  Please don't forget this fact (5+ / 0-)

    Baby Boomers are withdrawing money as they hit their retirements (or go into retirement).

    The reason they (the Powers that Be) want to Privitize Social Security is to replace much of that money being withdrawn by the Baby Boomers, and as you correctly state, the people withdrawing out of fear of losing money over and over and over again.

    Stop the Bubbles with regulations and you just might get some Faith back from people.

    In the meantime, why don't these corporations who are sitting on more cash than they will ever need, invest in the stock markets?  Oh, they're scared of losing their money too?

    Interesting (well, ok, it isn't).

    -6.13 -4.4 Where are you? Take the Test!!!

    by MarciaJ720 on Fri Dec 28, 2012 at 12:29:13 PM PST

    •  Social Security (14+ / 0-)

      As I've pointed out before, they've been wanting to privatize social security for decades, even though its been in surplus for decades.

      There's been no similar push reform Medicare.

      Why? Medicare is going to go bust, and soon. The same is not true for Social Security.

       The reason is simple: Social Security is a huge pile of AAA-rated securities that can be stolen.
        Medicare is just a soon-to-be bankrupt program.

      ¡Cállate o despertarás la izquierda! - protest sign in Spain

      by gjohnsit on Fri Dec 28, 2012 at 12:38:26 PM PST

      [ Parent ]

      •  It also fits their philosophy (5+ / 0-)

        The right wing hates an effective government program, so they naturally try to starve it or destroy it.  For Social Security, that means cutting benefits or privatizing it.  They give it the allure of more promising market returns.

        If we wanted to increase the returns on Social Security, the much simpler way to do that would be to raise benefits.  Heck, if you wanted to make Social Security more like a 401k (although why on Earth would you?  401k's have been a disaster for workers - PENSIONS should be the gold standard), you could just allow multiple levels of Social Security contributions.  At the same level as today, get the same benefits.  However, you can opt in to a higher benefit tier by paying a higher portion of your income to fund.  Done.

      •  Medicare (2+ / 0-)
        Recommended by:
        MarciaJ720, AllisonInSeattle

        has been "On the verge of collapse" since the '70s.

        If not us ... who? If not here ... where? If not now ... when?

        by RUNDOWN on Fri Dec 28, 2012 at 05:01:28 PM PST

        [ Parent ]

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