This socialist aspect of both these supposed "free market" stars is one of the embarassing secrets rarely talked about by the rightwing.
----- Original Message ----- From: "Jim Devine" <jdevine03 at gmail.com> To: "LBO" <lbo-talk at lbo-talk.org>; "Pen-l" <pen-l at sus.csuchico.edu> Sent: Wednesday, July 20, 2005 4:23 PM Subject: [lbo-talk] forced saving
>I tend to read on the run and I finally finished reading a "forum" in
> the June issue of HARPER'S. Conservative Republicans Peter Peterson
> and Glenn Hubbard hobnobbed with liberal Democrat Paul Krugman (to use
> the standard political labels).
>
> The most interesting part is that all three of them advocated "forced
> saving." To quote Peterson, "we have reached a point in this
> consumption-obsessed country [the US] where if we want people to
> save, we're going to have to make it mandatory. We're going to have to
> do what Singapore and Chile and Australia did." Hubbard agrees, while
> Krugman's main addition is that it should be called a "tax." I'm
> afraid that this may be the wave of the future.
>
> It would be interesting to hear what the experience of Singapore,
> Chile, and Australia was.
>
> As for me, I think it's time to dust off an old slogan, "no taxation
> without representation." If they're going to force us to save, we the
> citizens should have say over how it's invested. And it's _real_ not
> _financial_ investment that should be done.
> --
> Jim Devine
> "Science is the belief in the ignorance of the experts" -- Richard Feynman
>
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