Do Nothing with Social Security ?????

I received a response to a blog I wrote on Feb 5th concerning Social Security. In this response I was pointed to the following URL: http://www.spokesmanreview.com/chat/transcript.asp?id=61. At this site a Prof from E.Washington U discusses SS.

I enjoy looking at different takes on this subject so I read most of the article. If I wrote all the things that I disagreed with, this blog would be much too long to hold anyones attention, so I will hold it down to a couple of observations.

First, Mr Orr received his MA from the University of Colorado a few years after I graduated from there. He then stayed on to get his PhD. After all that has gone on at CU in the last few months with Ward Churchill, I am tempted to say..."I rest my case". What do you expect from a guy that studies at an institution such as CU? I can tell you from experience of going there in the 60's, having family living in Boulder (Peoples Republic of) and having a daughter who graduated from there, CU could easily be called the Berkley of the Rocky Mountains! Now he teaches at a school in one of the most liberal areas of the country.

As is typical of the majority of people against the reform of SS, this guy has little to say other than, let's do nothing! He calls SS an insurance system. If I am not mistaken, this is not the intent back in the 30's when the thing was created.

He thinks that private accounts would allow people to loose all their money unless they were an expert in the markets. I say, make it a requirement that only indexed funds be allowed. Or, for that matter, continue to put the money in T Notes, but with MY NAME ON THE T NOTE!

Even Chris Rock in his ranting has stated that SS is a scam for Blacks in this country because the average life span of a Black man is only 57. He is wrong on the life span (it is 67), but he has a point. Blacks put their money into SS for 35 years only to, on average, die before they even get to use it. And their families get no benefit other than the small death benefit.

He wants to fund SS with another tax increase on the RICH! Did you know that if pressed, the Libs will admit that they consider rich to be family income over $60,000 a year. How about that all you 2 teacher families making $80,000! I bet you never thought you were one of the evil rich in this country. Of course you teachers don't need to worry about SS, you have a private pension that has been doing just fine, thank you, invested in the stock market!!!

OK lets tax the really wealthy. You know, the guys and gals that make the really big money. You know Socialism! Robin Hood and all that good stuff.....does this all sound familiar?

He ignores the demographics of the Baby Boomers hitting the retirement age in a couple of years or so. His answer, well, increased productivity has taken care of this 16 to 1 gong to 3 to 1 thing. Yea, sure, why, even the libs in Congress have admitted that this is going to be a huge problem.

Orr says that Bush lied about accounts being guaranteed a better return. I am tired of these folks always using hyperbole in describing anything Bush does. I'm surprised he didn't accuse him of some Naziism. As I have stated in past discussions, it sure will not be hard to achieve a better return than what SS provides now. Particularly when you consider it is all gone when you die as the system is now..

This is much too long as it is. Nobody is going to want to read this thing, so I will end for now. Just remember, when you hear a one sided story on this very important thing, when a guy like Orr says do nothing, then head for the exit.