Current Events — HabitableZone

Current Events » in reply to The facts about social security

Re: Wall Street gains.
TB — (archived)

The problem seems to be that so many people can't wrap their brains around anything other than a monolithic, centrally-controlled solution.

Central to the Democratic ideology is that they have to MAKE people do the right things, or they never will. Of course, the "right things" are always decided by the government, which apparently grants omniscience to anyone who becomes part of it, like a decoder ring you get when you join a club. Of course, in real life the politicians who want to run everything are usually as dumb as a bag of hammers.

Keep the system decentralized, maximize individual control, educate people on how to deal with these things. If you are slowly feeding the Social Security system into a privatized entity, regulate the SS funds with a very light touch. I could live with maybe a rule that if you are over 55, a certain percentage of your investment should be non-equity. Period. That's the whole rule. Beyond that, it's up to you. Start going into detail, start steering the cash in the direction of "favored" investments, and the Wall Street corruption will land on us hard. Do NOT give anyone the power to steer your investments.

You bring the most angelic advisors into the government system and give them the power to control hundreds of billions, and even TIAA-Cref will turn into a pile of crooks.

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