Jim Manis on Most Anything

Jim Manis can formulate an opinion about a good many things, including those about which he has little knowledge. (And some dude named "Lazlo.") Visit The MagicFactory.

Friday, February 04, 2005

Social Security: Bush is on the road trying to sell his debacle of the Social Security System, with the simple argument, "trust me." Let's see, how many WMDAs did he promise us were in Iraq?

Coming out of the grand old practice of pure salesmanship, Mr. Bush has no regard for logic or evidence. His beliefs rely on good feelings generated by catch phrases, like "ownership." Well, that sounds good, doesn't it? But what does it really mean? Isn't it kind of like "I'll run the government like a business?" Wait a minute! Government isn't a business. Businesses fail, at a steady rate. Most never succeed past the first five years. Is that what we want from government?

An Idea: If personal accounts are such a fine idea, how about this: Let's establish a half of a percent tax in addition to social security, on payrolls that will be devoted to the new personal accounts, along with an equivalent amount to be paid in by employers. This one percent tax would then be placed into personal savings/investment accounts. Pundits have long argued that Americans don't save enough money. This would force us to save. The tax could be limited to workers under a specific age, say 40 and under. This way Social Security would be left alone, but we could test the individual benefits package.

Naturally, the problem with this idea is that the "no new tax" party would have to sponser a tax and their agenda of destroying Social Security itself would fail. Keep in mind that employers pay in a matching sum for employees. It's this tax that the Republicans are actually devoted to ending. True, that's not currently part of the plan being placed before the American citizens, but it is the ultimate goal of the party.

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