Sharon Angle supports social security privatization because...Chile's done it!

[babylonsister]

Can you say dingbat?

http://www.google.com/hostednews/ap/article/ALeqM5h_ebui1HuD8N6deVsyVqO77B8RHgD9HIP5DO1

Angle on private Social Security: Chile's done it

By OSKAR GARCIA (AP) – 16 hours ago


LAS VEGAS — Republican U.S. Senate hopeful Sharron Angle says the nation's Social Security system needs to be privatized, and she says it was done before in Chile.

Angle referred to the South American country on Thursday in North Las Vegas while explaining previous statements that the United States should phase out its current system.

However, the pension system established in 1981 by right-wing Chilean dictator Augusto Pinochet is no longer a fully private system. Chile's system was revamped in 2008 to expand public pensions for groups left out of its system, including low-income seniors.

The tea party favorite challenging Democratic Senate Majority Leader Harry Reid says the current U.S. system is broken.

Reid and Democrats say Angle's ideas about Social Security are extreme.

[mwb970]

1. Sharrron is such an ignorant tool.

Once again, the hallmarks of a conservative:

1. Strong opinions
2. Absolute certainty
3. Total ignorance

It's a winning combination!

[Turbineguy]

2. Yes, that may be but....

if we elect stupid people we'll be better off for it. Some say there's a study by a famous Professor that proves this.

[Champion Jack]

3. She is a prime example of one of the most dangerous things around:

The arrogant dumb

[BlueMTexpat]

10. Unfortunately, not dumb, as in "incapable of using speech."

If only ... sigh!

But she is ignorant and apparently proud to be.

[PA Democrat]

4. LOL. She needs to talk to the press more.

[safeinOhio]

5. Never mind

the lining up of dissidents in a sports stadium and mowing them down with machine guns and the total collapse of the middle class. Yep, that's what we want.

[txlibdem]

6. Privatizing Social Security is only one of Sharron Angle's dangerous ideas

She is a deluded and dangerous individual.

[malaise]

7. She couldn't find Chile on a map

and I bet she knows zippo about the murderous RW criminal Pinochet.

[SharonAnn]

8. And it actually didn't work so well for Chile. Pensions are much lower than

they would have been under the government plan.

1. It seems that a lot of people's retirement savings was eaten up by fees. Very high fees from the banks managing the funds and you had to use them. No options there.

2. In the early days, when under-capitalized Chile had a rapidly growing economy, investment returns were way up. As the economy capitalization balanced, returns stopped growing but the fees kept coming and coming.

It hasn't worked well for Chile. That's why you don't hear anything about their "privatization" plan these days. You heard it all the time when the economy was growing rapidly but we've heard nothing since the privatization returns fell off a cliff.

So, as usual, privatization meant the transfer of wealth from the working class to the privileged (and well connected) class. The banker made great money off the high fees.

[LynneSin]

9. Yeah in 1980 under murderous dictator Pinochet....

Oh and they changed that a few years back

[Greg K]

11. Hmm. Chile also has a national health care system... nt

[hobbit709]

12. Angle makes Palin look sane in comparison.

And that takes major effort.

[mmonk]

13. Yes and it was a failed US shock doctrine experiment.

Catch up on real history sometime Angle.