A bill for partial privatization of Social Security has been filed.

[No Elephants]

By Democratic Senator Thomas Harkin.

http://www.harkin.senate.gov/documents/pdf/5011b69191eb4.pdf

Before the primaries, I was suggesting that he should run for POTUS.

No matter how cynical I think that I have become, I am still gullible.

Of course, he is filing it only to "save" or "strengthen" or "reform" Social Security.

Those are the only things Republicans or Democrats admit to wanting for Social Security.

Social Security, a self supporting program that Congresses and Presidents have robbed blind to avoid raising taxes for their other programs, including wars, sure does need saving. From Congress.

What the fuck ever happened to the "trust fund?"

[Enthusiast]

1. I don't see it that way, No Elephants.

I agree that we can never be cynical enough.

But Harkin's plan doesn't recommend a partial privatization of social security. In fact he recommends raising the cap on FICA to $110,000 and increasing the COLA to enhance social security.

He does suggest we build a universal private pension plan that would supplement meager social security benefits. His isn't a "one or the other" proposal.

I don't feel threatened by his proposal. Although it could eventually evolve into a sort of back door attack on social security.

It's funny that social security has a dedicated funding mechanism yet it is running out of money. On the other hand, the military has no such funding mechanism yet it never runs out of money.



And, No Elephants, you said, "What the fuck ever happened to the "trust fund?"

Yes, they should change the name to "the fund". Because there ain't no trust.

[No Elephants]

2. "pooled and professionally managed"

sounds like privatization to me.

As an aside, why should there be any cap?

I have a modest proposal: a war tax to fund the Iraq and Afghanistan wars in full, over several years, the proceeds of which shall pay down the deficit, given that the wars ran up the deficit.

We no longer have a draft, Bush hid the cost of the wars and everyone hid news of the wars. The most painless wars ever, unless you or your child or other loved one volunteered.

Wars should not be designed to be as painless as possible for the vast majority of voters.


Maybe then, people will stop blaming the deficit on Social Security.

After that, maybe we can have a TARP tax.

[Enthusiast]

3. "pooled and professionally managed" is what they propose

for the universal pension plan. It has nothing to do with their social security proposals.