Get Your Blog Up

“This administration is populated by people who’ve spent their careers bashing government. They’re not just small-government conservatives—they’re Grover Norquist, strangle-it-in-the-bathtub conservatives. It’s a cognitive disconnect for them to be able to do something well in an arena that they have so derided and reviled all these years.”

Senator Hillary Clinton

Wednesday, April 06, 2005

The revenge of the straw man

Wait, what?
Critics of the Bush plan worry that retirees will be affected by the whims of the stock market -- an investment they say is not as good as the Social Security system itself.

(snip)

The only problem is that most of the working public already has their retirement money in the stock market -- and the system has worked fine for decades.

According to the Wall Street Journal, more than half of public pension (that is, retirement) plan assets "are invested in the stock market, yet labor leaders oppose personal Social Security accounts for workers, say observers."

Will Democrats and other Bush opponents continue dredging up straw men to argue against doing something that big business and big labor have already have proven works?

Yes, the system that has worked well for decades is a pension with the fallback of Social Security. That way, if the pension fund fails, or loses it's value, then people can still receive a check from the government that will help keep them fiscally afloat.

The President's plan offers no such safety net. You fail with your investments, you have nothing to fall back on. And that's to say nothing of the arguments about the realistic rate of return from the stock market you can expect in the future.

Will Republicans and other Bush supporters continue to come up with idiotic arguments that even a straw man could destroy?