History

Q: Who was the first president to lobby for every person being allowed to have private accounts invested in stocks in order to fund their retirements aka privatizing Social Security?

A: Franklin Delano Roosevelt. Privatized accounts were in the original plan for Social Security but were dropped because Republicans were afraid that another stock market collapse like they had experienced only a few year earlier in 1929 would wipe out everyone’s savings.

Economics

Q: What happens to stock markets when large quantities of capital (money) is pumped into the as would happen if Social Security were partially privatized.

A: The Law of Supply and demand would kick into effect and stock prices would rise and companies would be able to develop new products, build new facilities, hire more people and increase production. Salaries would rise as more jobs would be created than could be filled and companies would be forced to pay more in order to fill the positions.

Q: What happens when incomes rise, production increases, and companies have bigger profits?

A: The value of the stock increases therefore anyone owning stock accrues wealth. There were employees who had worked for Woolworth’s and been in the employee stock purchase plan who despite working for low wages while employed had VERY substantial portfolios when they retired. Why? Because the $10 – 20 a week they were putting into Woolworth’s stock was gaining value and splitting 2 and 4 to 1 every couple of years. Had I bought stock in Woolworth’s when I became eligible as a FootLocker employee in 1989, and been able to keep it through my divorce in 1992, for every $20 I had put into the plan, I would probably have over $1000 now. The stock split 2 for 1 and again 4 for 1 less than 18 months later. With a purchase price at the time of $16, a $16 investment in 1999 was worth over $250 by 1992. A 1000% gain in under 3 years.

Q: How many congressmen and their staffers are enrolled in a privatized plan through the federal government?

A: All of them. The very people who decry privatized plans as bad for America, are themselves enrolled in them. That means that all of the congress members who claimed that privatized plans would ruin anyone who signed up for them’s retirement are either liars for calling the plans bad, or fools for signing up for one themselves.

Hey Obammunism: America is already great! FYI

The Democrites, not wanting to fundamentally change SS to fix it because it effectively included letting people have some control over their money, suddenly proclaimed there was nothing at all wrong!

Now as Bush gets close to leaving, suddenly there is a huge problem again!

That’s just one more example of why I hate them so much. They are so politicized they would ruin the country for their own perceived political expediency.

PS: Anyone got a sling shot, and a couple of rocks!

But I know, I know…the Democrites “care about the common people”. They’re “fighting for you!”

yeah, right…