The Bushies are about to launch a $50 million to $100 million dollar propaganda campaign to convince us the Social Security system is in crisis. Actually, it's not. It's quite robust and has astonishingly low administrative costs, less than 1 percent.I wonder who's going to pay all these administrative costs? Doesn't it seem like, one way or another, it's going to end up being you and me (but mostly you because I'm scheduled to return to my home planet sometime in 2006)?
According to President Bush's own Commission to "Strengthen Social Security," the administrative costs of keeping track of private accounts will be 10 to 30 times the cost of administering the current system.
“Well, I've been in the city for 30 years and I've never once regretted being a nasty, greedy, cold-hearted, avaricious money-grubber... er, Conservative!” - Monty Python's Flying Circus, Season 2, Episode 11, How Not To Be Seen
Thursday, January 06, 2005
No Hidden Fees
All the Credit Card companies promise no hidden fees. It's a popular promise to make. Not necessarily, unfortunately, a popular promise to keep. Well President Bush is promising much money to Americans if they buy into his Social Security Phase Out Plan (also known as Partial Privitization), but it turns out there may be some hidden fees as well, as Molly Ivins points out in her latest article.
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