John Irons's Blog


Economic News, Data and Analysis

Social Security Privatization in a Nutshell

From Max Sawicky…

MaxSpeak, You Listen!
Under the George W. Bush Excellent Privatization Plan for Social Security, the Government borrows money and purchases capital assets on your behalf, selecting how much of each asset you will buy, dictating the process whereby your portfolio is transformed from equities to bonds to an annuity, charging you a stiff interest cost for the purchase, gutting what remains of your public pension, and guaranteeing you a feeding tube until the Lord calls you home. This is far superior to socialism, since you will be unconscious during the entire process.

Filed under: Economics

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