boblq wrote:
No. We can just let the incompetent amongst us, which also includes
a fair number of creative people set upon by various of life's difficulties
die in the street. Hopefully they will have the decency to find some
crummy part of town in some lousy part of the country and not do
it in our faces. Just crawl under a rock somewhere and die out of
sight and out of mind ;(
But before people rush off in panic about the coming SS disaster,
which has habit of being predicted every decade I suggest they
should try to become familiar with the facts.
...
And who guarantees those returns? Why the government you
say. Who else is going to guarantee a minimum return? Who
else can? I defy you to find any other organization, outside
of the Catholic church, if you are a priest, that will offer the
population of the entire nation such a minimum guarantee.
But so the fox says to the chickens, "Oh its OK to let the
government guarantee our 'professionally' managed IRAs."
Now these 'professional' managers have it made. It is an
open invitation to the greediest among us to take in huge
amounts of cash on a promise and loot these funds. Oh,
pardon me, a 'few' of them would just have poor judgment
and make a 'few' bad investments. So money would be
'lost'. Damn I hate that use of the word 'lost'. Except for
the government printing it, money is not 'lost' is conserved.
All of the 'lost' money went somewhere. The other side of
the transaction 'made' money ...
This would be a Savings and Loan party all over again but
probably far larger and with far worse impacts.
Count me on the side of the "tweak it a bit" crowd.
Life is far more precarious than most of us thought
when we were young and immortal. A net that keeps
old people from being told to go die in the streets is
one social invention that we can and must afford.
Finally, there is a real problem though and that is
exactly as Andrew has pointed out. The healthcare
system is broken badly. It makes the problems with
Social Security seem trivial in comparison.
boblq
Mod the parent up!
--
Best Regards,
~DJA.
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