Editor's Note - As you can see this was published in 2004 but it's more important now that 11 years ago. The demographic pyrimid in the U.S. - as well as much of the rest of the world - is all out of whack. The bottom of the pyrimid isn't nearly wide enough to support the mass above it, and the next generation's inability to gernerate capital is going to start being felt by 2020 - when many claim Social Security will no longer be self funding. As for the massive capital gererated by the Baby Boomer generation - it's been largely wasted by leftist schemes and solutions such as the Community Reinvestment Act - which created the housing bubble that burst and collapsed the world's economy. Those trillions are gone - those trillion can't be replaced and trillions more are being wasted on idiotic leftists schemes to end poverty, redistribute the world's wealth and on green initiatives. And that doesn't factor in the corrution all those shemes generate and the massive amout of regulations pushed onto the public - which costs Americans two trillion dollars a year. RK
Llewellyn H. Rockwell, Jr. December 8, 2004
The movement to privatize Social Security (fully or partially) may be the most
ideologically duplicitous and fiscally irresponsible I've seen in my lifetime.
It was proposed by Clinton and now by Bush. Whether it dies in the next few
months or generates some monstrosity of a bill to be voted on, don't believe
that there is anything in the works that is going to bring you more freedom.......Social Security is as economically and morally objectionable as any other form
of forced redistribution, from public housing to corporate subsidies to
warfare, but made worse by the subterfuge that it is an insurance program of
some sort. Once we get that clear in our minds, how to deal with it becomes
clearer as well. It needs to be zeroed out and replaced by laissez-faire,
precisely as saving for later years has always occurred in the whole of human
history.....Look a bit closer and you see a big problem, namely that the current program is
not merely a government-run retirement scheme that can be converted to a
private system. It is a transfer program from working people to retired people.
All that nonsense about how much the government owes you, how much the system
has accumulated for you to enjoy later on, is an accounting fiction.
When people stop paying in, people will stop receiving. It is as simple as
that.....To Read More...
No comments:
Post a Comment