April 04, 2008

Excellent...

I still have my disagreements with McCain, but this is VERY cool.

And you can bet that Mr elite-white-liberal-writer here has his own retirement bucks in a 401-K, or IRA....or wishes he did. But he hates the thought of the little people getting the same "risky" opportunity.

Oh how I wish I could be a sort of Robin Hood, and take the retirement $ of every one of these lefty frauds and "invest" them in Social Security. And see how they like the returns.

He's 'McSame' on Social Security, Too
By Joe Conason
The most puzzling aspect of John McCain's political persona is his habitual attraction to George W. Bush's bad ideas. Their shared enthusiasm for invading Iraq [and our side's winning--not yours!] and then escalating the war [of course al Qaeda never did any escalating...for leftists, only America is real, only american can "escalate".] is why "McSame" will soon become the new shorthand for the Arizona Republican, replacing "maverick" -- but that isn't the only reason. He doesn't just endorse the disastrous foreign policy initiatives; he loves the failed domestic policy schemes, too.

Specifically, McCain is a longtime supporter of President Bush's Social Security privatization initiative, last seen descending into oblivion only months after its introduction in 2005. He played a cameo role in the promotion of that notion (which never became an actual plan or bill in Congress) when the White House trotted him in for one of the President's staged public "conversations" on the subject. Back then his pleas for everyone to sit down and negotiate the surrender of Social Security to Wall Street were universally ignored, yet that scarcely seems to have discouraged him. [If Wall Street is so bad, I'm sure Mr C puts his own investments in the Cuban market.]

Actually, McCain supported Social Security privatization before it was uncool, when he first ran for president eight years ago. The Wall Street Journal reported recently that a proposal to divert a portion of payroll taxes to finance private accounts, like the Bush scheme, was "a centerpiece of a McCain presidential bid in 2000." Both he and Bush have wanted to dismantle [ie: Make it actually work] Social Security for many years, in fact, and he has indicated that will be an important goal for a McCain presidency....

Notice that, even if you read the whole piece, this lefty does not make a single factual or economic argument against SS reform. It's pure politics, winning or losing, for him. He does not dare argue his case on its merits, nor does he care what's actually the best policy.

And "McSame" won't fly. Not with McCain. Not after the lefty news-media have spent 8 years eagerly pointing out his differences with Bush.

Posted by John Weidner at April 4, 2008 06:25 AM
Comments

Outside of McCain/Feingold, my biggest problem with McCain is that he often comes off as an economic luddite. He has surrounded himself with economic advisors that I admire, but I worry that is largely to get the conservative vote – my vote. His stance on Social Security reform is encouraging, and news to me. So, thanks to the lefty for pointing it out.

Posted by: Mike Plaiss at April 4, 2008 07:12 AM

i wrote a book in 2005, The Raw Deal, laying out the arguments against privatization in detail. You can look it up. And yes, it is wise to save for retirement in a personal tax-advantaged account -- but not to replace Social Security with private accounts.
Ask Buffett or Shiller...to name just two economists who can prove they know what they're talking about...

Posted by: Joe Conason at April 4, 2008 08:19 PM

Well, I scanned the reviews of your book at amazon.com.

If your reviewers are reflecting the contents of the book, then I am reinforced in my views. There are attacks on the people and the party involved, attacks on Wall Street, attacks on the idea that there is even a problem with SS, gush about the New Deal, hand-waving about "risk"....

But no simple comparisons of what the same investment would earn in SS vs, for example, private accounts invested in mutual funds.

And you have slid past my questions about you. Do you have retirement investments? Or your friends? How about if I could go back in time and transfer that money to SS? Would that be OK with you? Would you like me to protect you from Wall Street?

And the little people you claim to want to protect. And claim are in agreement with you. Would you be happy if I could show them comparisons of what they are going to get with SS vs what they would be getting if the same dollars had been invested in risky evil Wall Street?

Thank you for taking the trouble to comment here--it's flattering. But your comment isn't much of an answer to anything.

Posted by: John Weidner at April 5, 2008 06:11 AM
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