Face It: Ace is Gone (WuzzaDem AND The Unpopulist) | Main | Democrats To Vote Rice In Despite "Reservations" [Say Anything]
January 26, 2005

What Bush Means By "Ownership" [Say Anything]

This editorial masquerading as an "article" from USA Today is interesting. Here's the first paragraph:

President Bush is selling his idea to transform Social Security with private investment accounts as part of a new "ownership society" for Americans. The accounts, Vice President Cheney says, would be "a retirement fund they control themselves and can call their own."

Here's the second paragraph, which I like to call the "But..." paragraph. Its the point at which the reporter feels his obligation to reporting "the other side of the issue" is complete and moves on to pile up the criticism.

But the reality would produce a lot less individual control than Bush and Cheney suggest.

Major proposals, including those from the president's own commission,to revamp Social Security with private investment accounts include provisions that place big limits on how much money individuals can invest, where it can be invested, what they can do with it when they retire and how much they can pass on to heirs.

Bush has not offered a specific plan to reshape Social Security, his top domestic priority, but he has said workers should be able to divert a portion of their payroll taxes into investment accounts. "By making every citizen an agent of his or her own destiny, we will give our fellow Americans greater freedom from want and fear and make our society more prosperous and just and equal," he said in his second inaugural address last week.

The reporter is missing the point here in regard to "ownership." When the President talks about citizens "owning" their Social Security funds what he means is that the funds will no longer be available to greedy politicians looking to raid Social Security to fund other programs and legislation. The government won't have access to your private Social Security account any more then they'd have access to your savings account in the bank.

Granted there will be limits as how much you can pay in or invest but at least you'll know it will be there when you retire. Right now we have no such guarantee. And lets be honest, if Social Security is the sum total of your retirement plans you're a damn fool. In fact, unless Social Security is fixed now I'm not planning on seeing a dime when I retire.

[Cross-posted at Say Anything]


digg this
posted by Ace at 09:23 AM

| Access Comments




Recent Comments
Duke Lowell : "Hmmmmmmm. Weird. ..."

Slapweasel, (Cold1), ([b]T[/b]) Baseball Nut [/i] [/b] [/u] [/s]: "*Boom-Shakka-Lakka!* ..."

Alberta Oil Peon, survivor of GNAMM: "Coolest physics demo I saw was a standing wave, di ..."

buzzion: "[i]386 Oh dear, am I gonna go all militant German ..."

tu3031: "Went to school near there in the 80's - very Irish ..."

2009Refugee: "Oh dear, am I gonna go all militant German Left Wi ..."

buzzion: "[i]381 Baader-Meinhof. Posted by: flounder, rebel ..."

flounder, rebel, vulgarian, deplorable, winner: "Coolest physics demo I saw was a standing wave, di ..."

riktheYFITB: "Know how there's one (1) Howard Johnson's restaura ..."

Bob @ NSA: "[i]I had never heard of that bowling ball demo, th ..."

flounder, rebel, vulgarian, deplorable, winner: "Baader-Meinhof. ..."

Professor Chaos aka gumdrop gorilla: "This Damon Affleck thing is also not good for Jimm ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64