Saturday, February 05, 2005
Social Security Suckers
Here is the secret Bush plan that you will not read about anywhere else: what kind of investments do you think you will be "allowed" to invest in with your "personal" govt. owned and controlled "private" account?
Ultimately, only one: social security bonds. Instead of selling these bonds to the Chinese, the Japenese and the Saudis, we're going to sell them to ourselves.
At the end of the day, this is nothing more than a plan to suck up the social security dollars and resell them to clueless boomlet Gen X and Gen Y suckers.
You will pay your tax, "keep" half in your account. The govt will go on spending the social security surplus AND borrow against it at the same time (like taking out a new mortgage every month to pay for each month's mortgage payment and taking that money and getting drunk). Then, you will have the privilege of "investing" in social security bonds that will not pay off until you retire. You will earn really low rates lower than inflation. You will get screwed three times - a con, a bad investment, and you will have to pay taxes on your retirement earnings.
Oh, and it's all funded with a deficit.
George Bush is to money what Clinton was to sex.
