Re: Question about President's Social Security plan
From: Jim Blair (jeb_at_wisc.edu)
Date: 01/03/05
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Date: Mon, 3 Jan 2005 14:26:24 -0600
"The Trucker" <mikcob@verizon.net> wrote in message
news:cr51u70161j@news1.newsguy.com...
> Jim Blair wrote:
>
> >
> > "The Trucker" <mikcob@verizon.net> wrote in message
> > news:cqqd2j02ao5@news1.newsguy.com...
> >> Jim Blair wrote:
> >>
> >> >> >>> >
> >> >> >>> >I am puzzled by the politics of this debate. Bush wants to (in
> >> > effect)
> >> >> >>> >reduce the FICA now with the restriction that the tax reduction
> >> >> >>> >be invested/saved for future retirement.
> > .....
> >> >
> >> > ... That is why Bush has the right idea. If WE save for our
> >> > retirement, the government does not have to save for our retirement.
> >
> > Trucker Coburn:
> >>
> >> (snicker) You and The Chimp are definitely on the same page here. I
> > wonder
> >> if it ever occured to any right winged moron that WE can't _all_ save
for
> >> our retirement ....
> >
> > Hi,
> >
> > Of course we all can. Anyone and everyone can save and invest.
TC:
>
> Again B-Liar changes the basis so as to lie. Saving .ne. investment.
>
......
>
> Stocks would be an "investment" as opposed to a "savings". I have said
that
> we all can't "save" at the same time. There is a flaw in this but you
> will not find it. ....
> A share of stock is an investment as opposed to a "savings", .... etc.
Hi,
When I say that I "saved for my retirement" since 1966, what I mean by that
is each year I "saved" about 10% of my income by not spending it on
consumption and instead bought stock mutual funds and bond mutual funds with
that money. I call that "saving and investing". I "saved" money by
"investing" it. Understand? My "savings" were "invested". Same dollars.
Where is the lie?
>.....but even
> then, the current rent seeking behavior of monopolistic companies
> and their overpaid management does not present a very good "investment".
> All the benefits will simply flow to the management and the owners and
> very little "investment" will take place......
??? Are you saying that today it is NOT a good idea to buy stocks and bonds?
That companies today don't invest?
> However, the construction
> of more hydroelectric dams and fish ladders, and the creation and
> maintenance of a better power distribution system, and the proper
> development of bullet fast trains, and all sorts of other things
> could be accomplished by government just as well or better than these
> things are being done by the rent seeking Repugnican monopolists.
??? Are you saying that today the government is better at building capital
for the future than private companies?
Is that because today the government (both houses of Congress, the
president, and most state governors) is controlled by the same political
party? Those Repugnicans?
>..... Why do you think that the
> younger people in the rest of the world owe you anything at all.
Each month I collect interest and dividend checks from stock and bond mutual
funds, that get the money from many corporations with factories all over the
world. Why do they send ME money? I think it is because I sent them money
every year since 1966. Why do you think they send me money?
> Looks to me that since you have stiffed the younger generation
> in the USA you are now looking to stiff the rest of the world.
> The technoids in India were not educated by you or the current
> Repugnicans.
Some of the technically trained Indians were educated here in Madison at the
UW. And some even took my classes at Milton College. Or if they work for
NIKE or in the phone hotline for a company whose stock I bought (thru one of
my mutual funds) then I did help provide them with a job.
>...Yet you seem perfectly willing to get your income
> from them on this pretext of "tools and skills"
Yes.
>....you never provided.
??? Then what did TIAA/CREF do with all that money I have been giving them
since 1966?
>
> > But we need to
> > provide them with the tools and skills to do that today if they are to
> > support us in the future.
TC:
>
> Whatever it takes to make the poor support the rich, that is what
> B-Liar and the Pugs will go for.
>
??? Closer to "whatever it takes to make the poor into the rich". And that
is mostly "savings that are invested."
,,,,,,,
_______________ooo___(_O O_)___ooo_______________
(_)
jim blair (jeblair@facstaff.wisc.edu) Madison Wisconsin
USA. This message was brought to you using biodegradable
binary bits, and 100% recycled bandwidth. For a good time
call: http://www.geocities.com/capitolhill/4834
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