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View Diary: Social Security: Don't buy the Fear Factor! (202 comments)

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  •  Welcome Mr. McDermott (none)
    So good to have you here and posting.

    If we could have stopped the theft from SS's surplus, there would be no problem to worry about in the future. If the "surplus" had been wisely invested into mutual funds or some sort of diversified investment account, it would earn enough in interest and dividends to pay benefits far off into the future. Divvying it up into individual personal accounts at this point (when there is no longer any surplus) is insane and fiscally irresponsible. Greenspan recommended a tax cut to prevent there being "too much money in excess" of federal needs and this was when we were in the black... stupid mistake (and he's supposed to be the expert??) What's wrong with having an excess? Education, healthcare, the environment, SS, and everything else could have benefitted from the dividends and interest on that "excess" and SS benefits and medicare could have seen increases to the point of our seniors would have never ever had to worry about living out their old age in poverty. Instead, now we have massive debts we'll never be able to pay off, and all those safety net programs are being trimmed to ineffectiveness... including education.

    We have to stop thinking of expenditures on education, healthcare, the environment, etc. as spending and instead think of them as "investments" because that's what they really are... we are "investing" in the future of our children and our country. Infrastructure improvement is also an investment.

    Privitization is Corporate-speak for robbery. It steals from the "commonwealth" (what the Public already owns) and gives it to wealthy, private individuals (Wall St. and Brokerage Firms, etc.) Why should we be giving them anything? They haven't earned any rewards from the People. One good, thorough look at Corporate America (and WalMart is a good example) tells me that they don't care what happens to us. Don't support the Owners who would make us all their Slaves.

    --From: Another member of the McDermott Clann  :)

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