Fighting SS privatization (was Re: The Nation - Selected Editorial)

Enrique Diaz-Alvarez enrique at
Tue Jul 21 11:44:58 PDT 1998

Max Sawicky wrote:
> The problem for advocacy in this area is that any
> explicit proposal for a tax increase to finance the
> existing system is a political loser. That's because
> the public thinks privatization will give them gain
> without pain.

Exactly. Since the stock market is like a savings account paying 30% interest, why not put all SS money there?

The best way to fight it, I think, is stall the whole thing until the bubble bursts. Should be any time now.

Alternatively, one could try to explain to people that the stock market will _not_ give 30% returns, or even 15% or 10% real returns, forever. I've tried to, and don't recommend it. Very painful.


-- Enrique Diaz-Alvarez Office # (607) 255 5034 Electrical Engineering Home # (607) 758 8962 112 Phillips Hall Fax # (607) 255 4565 Cornell University mailto:enrique at Ithaca, NY 14853

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