Bush's private account proposal is nothing less than a very cynical
attempt to manipulate the system and steer large amounts of wealth into
the pockets of his supporters.


Dave Hall wrote:
Please explain how this happens?


It's very very simple, Dave. How do you think they choose which Wall St
firms get to handle the new accounts?


Regarding the comparison of Bush's SS proposal to the 401K plans.... if
the goal was to increase people's ownership of their retirement (as is
claimed) then the same thing could be accomplished by increasing the
allowed 401K deduction and lowering SS taxes. Very simple, but it
doesn't steer that money into the "right" pockets.


Dave Hall wrote:
That's pretty much the plan.

No it isn't. Not even close!

... Where do you get the notion that some
mythical phantom people will be skimming the personal accounts of the
holders?

Please quote where I said any such thing.

Dave Hall wrote:
Liberals have to demonize this plan to put people in charge of their
own retirement planning by spinning it as a windfall for
wall-streeters, simply because investment firms usually manage such
plans. The fee for managing a 401K is usually much less than interest
earned, so you're still ahead of the game.


Does that change the *fact* that the Wall St'rs involved are now getting
a gov't mandated profit from Social Security dollars, which will have to
be replaced by further gov't spending?


Post your "facts".

It's very simple, Dave (see above).

Do any SS taxes currently go into Wall St accounts? No (shake your head
side to side)

Will they if Bush's proposal is passed? Yes (nod your head up & down)

Do Wall St firms profit from accounts they handle? Yes (nod your head up
& down)

QED The chosen Wall St firms will take a profit out of SS taxes under
Bushes plan.


... Is a
reasonable plan administration fee not appropriate in a managed equity
private account? Would not that fee be deducted from earned interest
resulting in no additional outlay from the government?

That's the way my 401K works.


Then why not put more money into your 401K and devote some time & effort
into actually *fixing* Social Security?



Does "liberal demonization" of Bush's SS proposal change the *fact* that
the Bush-Cheney team have lied about his plan and it's impact?


Who said they lied? In what way?


They (and you) lie about almost every single aspect of it.

The most obvious example I can present is Bush's own statements:
1- it will somehow "fix" Social Security
2- it will not increase deficits (and he compounded this lie by stating
that Alan Greenspan said it would not increase the deficit, which is the
exact opposite of what Greenspan actually said)
3- that "all options are on the table" when they reject other proposals
more directly aimed at stabilizing SS in the long run
4- that this plan should "stand on it's own" when there are
behind-the-scenes pro-Bush/Cheney publicity campaigns spending tens of
millions of dollars promoting this plan
5- Democrat opposition is based on the supposition that Dems want to
"spend" that money (as opposed to what... the wise & conservative fiscal
management of the Bush Administration so far? And the fact that Congress
can't spend SS, and never could?)


If it's so great, why can't they tell the truth?


That you think that they are not being truthful is an example of the
liberal demonization at work.

No, the thing that makes me think they are lying is that their
statements don't match up with facts in the real world.

DSK