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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (90707)	12/15/2004 5:39:18 AM
From: Sig	Respond to of 793777

It would be useful to see a a more clear cut explanation of the effects of privatization of SS. But the success is so locked in step with prosperity that it would would be nearly impossible to guess the result. Luckily the basic SS program is retained, while only a portion would be privatized and could be looked at as an experiment As an investor with 55 years experience, the market is not what it once was, and it never was as good as tales tell. There are so many brokers and funds taking their little pieces of the cheese (bless those 401 k's) that there is mighty little if any returns left for the individuals. However, if you live in a urban area, house and property values can double in 3 to 10 years. You have to be somewhat rich to own those things, including such things as shopping malls and rental units, so again and forever the rich get richer and the poor ( renters) get poorer. However in America, it is not painfully poor, in ten years your income could double so one does not feel so poor, even if you are still just "making out" . Financially, that is. The main game is to keep the money circulating , and that is a major part of Greenspans job. As jobs grow and wages increase and inflation leaves its mark, we pay todays debts with much cheaper or easier to obtain dollars. And the result of privatization is unknown. It does give people a welcome choice, a feel of control over their own money and destiny, as opposed to having the government continue to deduct a gradually increasing amount from paychecks Is it worth a try? You decide. Many people would make the wrong choices in investments, and have to be bailed out. I happen to disagree with GWB on this one proposition,and would write the rules so changes can easily be made if it becomes obvious that privatization does not work. Sig