The intent of the Republican party is to remove compounding and saving from the working careers of Americans and replace them with luck. That is how fiercely they believe in Magick over reason. That is how irrational they are -- to insist that without the simple compounding of interest over 40 or so years of employment that traditional pension plans insure, and without the steady addition of accumulated savings over time that a single, steady career insures, workers can somehow magically manage to accumulate enough to retire with a reasonably comfortable standard of living. So, they aspire to a world of part-time employment without pension plans, where even the multiple, consistent, high earning years that the Social Security system absolutely requires are absent. And then on top of that, they additionally want to privatize Social Security itself so as to make it dependent on the wild fluctuations of the stock market and the sticky fingers of greedy private sector financial management firms, until what little savings the worker has left are snatched from his pocket. They envision a world of small entrepreneurs, all of whom are dependent, against all odds, upon beating the laws of mathematics and striking it rich in the Horatio Alger sense. But when reality finally hits home, workers will find that that just isnt the way mathematics works. Even in George Guilders wildest and most reactionary imaginings about the Spirit of Enterprise, not everyone can win the lotto big at once. In the real world there will always be more losers than winners. And the big loser under the Republican plan will be the American people. ...bz
Posted on: Tue, 27 Jan 2015 12:23:55 +0000
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