Let's start with investing public money in the stock market. The first thing you should think about is, which companies will get tax money? How is this to be determined? No one has told us how the companies will be chosen. A hare brained scheme like this will only invite corruption, since people are going to reward those who enable them. If your loyalty is not to the person who writes your paycheck, then you will either quit your job or continue to complain, but as long as you work at a place, you are going to perform at some functional level. Therefore, the politician who is paid in campaign contributions will repay his enablers. That means a few hundred thousand dollars in the right campaign chests may mean you make the stock or mutual fund that gets public money. Investing your dough in big business establishes a marriage that Krupp wouldn't have dared dream of.
What about personal risk? As an Enron investor, we were told that the stock was a steal in 2000 at $45 a share. It was. The fundamentals of that global company were excellent. They were a global power house, and the stock was surely headed back to levels at or above its one time price of $90. It was a slam dunk, since people needed electricity, and all of the public information about the company was great. Unfortunately, we didn't know the real truth was only available to Ken Lay, Jeff Skilling and George Bush's Army Secretary. Within a year it was all gone. Millions of dollars went down the drain. How would you like it if that happened to your tax dollars? I guess the new GOP plan would be "print more money."
How about long term planning by the Feds? Right now, we have enough money to pay full benefits for the next 20 to 50 years, depending on who you believe. There's plenty of time for coming up with a good plan. Perhaps we should really try to piece something together that's bi-partisan and that everyone can agree on. Why must it be now? What's the short term urgency? Let's hear a coherent, and long-term plan that makes sense. Bush doesn't even have a bill to present. He should handle this like a President who can accept advice, not one who wants us to rush into everything.
from: http://distanceblog.blogspot.com