| The Alternatives to Privatizing Social Security Are Worse - |
|
|
|
|
|
marotta
Senior Member
Cash: $ 81.84
Posts: 332
Joined: 19 Nov 2004
|
| The Alternatives to Privatizing Social Security Are Worse - |
 |
|
The Alternatives to Privatizing Social Security Are Worse - Part 2 (2005-03-07)
by David John Marotta
Those critical to privatizing social security rarely ever focus on the cost of the alternatives. That’s because the alternatives to privatization all have dire consequences. Last week we saw that neither raising taxes nor lowering benefits will solve the financial burden of fewer younger workers and longer living boomers. This week we will dispel the myth that allowing the government to invest in the markets would be anything but a disaster.
Read the complete column at http://www.emarotta.com/article.php?ID=117
David John Marotta
Marotta Asset Management, Inc.
Fee-only Financial Planning
http://www.emarotta.com
|
Mon Mar 07, 2005 3:28 pm |
|
|
David Briggs
Senior Member
Cash: $ 57.86
Posts: 289
Joined: 16 Jan 2005
|
| Profit is Number |
|
|
It's a highly ideological article, DJ. And with which I disagree. It assumes that profit should be Korporate America's number one prioritiy. Profit
~~David
|
|
Tue Mar 08, 2005 4:26 am |
|
|
David Briggs
Senior Member
Cash: $ 57.86
Posts: 289
Joined: 16 Jan 2005
|
| Profit is Number 4 |
|
|
Profit should actually be priority Number 4. I rank the priorities as follows:
1. Produce goods and services. Safe and ethical ones, which minimize waste of natural resources and harm to the environment.
2. Employ people. Particularly American people. At wages which are stable or growing.
3. Cover the costs of priorities 1 and 2.
4. Make a profit.
We should let the Social Security trust fund invest in stocks and vote those shares to ensure that profit is NOT number 1. Go ahead and limit the selection to the companies with the largest market capitalization. These are the companies which exercise the greatest power on the economy and the government, and in most cases are already as bureacratic. Personal retirement accounts will only dilute that voting power. Don't miss this opportunity to leverage our national retirement system into a force for true common benefit.
~~David
|
|
Tue Mar 08, 2005 4:44 am |
|
|
Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
|
|
|
|
Wow, Mr. Marotta, that is the most intimidating duck I have ever seen! Is it the AFLAC duck's evil brother? 
My fragmented thoughts...
Socialism Security: junk it.
Replace it? Possibly. The private sector will always run things more effeciently and effectively. The Federal Thrift Savings Plan (which is contracted) may be a good alternative: low overhead and effective.
Or, eliminate it in its entirety and substitute it with IRA-like tax incentives. American's don't need a daddy to care for them; give control and responsibility to the individual. This would incite more financial responsibilty and awareness and also be a boon for the Financial Planning industry.
How many of us with a clear retirement plan actually count Socialism Security? I don't...it's not even a factor. Whatever I get from it, if anything, would be nice pocket change.
Business. The purpose of business is to make a profit. Period. The purpose of business is not to create jobs (though it does) and it is not to create jobs solely for Americans. The best way to accomplish this is indeed Mr. Briggs' #1 priority.
"Expect me when you see me."
|
|
Sun Mar 27, 2005 3:16 pm |
|
|
|
