Comments on: John McCain Still Supports Privatizing Social Security

By: Geoff Dodd

Geoff Dodd — Mon, 29 Sep 2008 13:56:15 +0000

Privatising things makes them subject to the greed factor in rampant capitalism, with reduced real social services. Super would then run totally ‘out of control.’ Big winners, big losers. Geoff D.

By: Sean D. Martin

Sean D. Martin — Mon, 08 Sep 2008 01:01:44 +0000

Rheinhard: Sean apparently believes that leaders should only ever concern themselves with public opinion when it is believed that the public opinon favors ideas which are “conservative” (more wars, screw more poor people etc.) If the public opinion favors ideas which are more “liberal” (dpn’t hand over the Social Security trust fund to coke-snorting Wall Street masters of the universe), then it is devoutly to be ignored.

Oh, Bullshit.

How about instead of speculating on what I apparently believe you say something relevant to what I actually posted? For example, I voiced no opinion on whether McCain’s plans for Social Security are good or bad. Only that objections to it should be based on something of more substance than whether McCain’s view is popular.

And Social Security was used only because that is the topic of OW’s post. Had he or anyone commented in exactly the same way on an unpopular proposal of Obama’s, for example, I would have posted exactly the same comment.

By: Rheinhard

Rheinhard — Sun, 07 Sep 2008 20:07:34 +0000

Sean apparently believes that leaders should only ever concern themselves with public opinion when it is believed that the public opinon favors ideas which are “conservative” (more wars, screw more poor people etc.) If the public opinion favors ideas which are more “liberal” (dpn’t hand over the Social Security trust fund to coke-snorting Wall Street masters of the universe), then it is devoutly to be ignored.

By: Sean D. Martin

Sean D. Martin — Sun, 07 Sep 2008 17:18:59 +0000

OW: The American people – across party lines and ideology – do not support privatizing social security. They don’t support it in boom times, let alone in the middle of this Republican recession. But John McCain, just like George W. Bush, does support privatizing social security.

Is your objection to McCain’s position based on it being unpopular, or its being harmful. Because from your lede it appears the objection is that his view doesn’t match what the majority wants. And that is a woefully bad basis on which to object.

Are you in favor of government by poll? Should leaders only ever follow?

By: Rheinhard

Rheinhard — Sun, 07 Sep 2008 17:02:50 +0000

Gravy – I’d be ecstatic if I didn’t have to have a 401K, which would be the case if the regulations governing corporate meddling in PENSIONS weren’t so lax, and we could trust the PRIVATE pension plans we were supposed to receive when we started working X years ago.

By: Ed G

Ed G — Sun, 07 Sep 2008 16:39:07 +0000

McCain's has flip flopped on Social Security. He seems to be changing his tune, but who knows? Check out http://www.aafr.org/2008/09/07/obama-dont-privatize-social-security-mccain-yes-er-no-er-maybe/trackback/ on the AAFR site.

By: Gravypan

Gravypan — Sun, 07 Sep 2008 12:38:32 +0000

Then might I suggest all of you turn your 401k’s over to the government and let them handle it.

Afterall, they know how to better manage your retirement funds than you do.

By: Nimrod Gently

Nimrod Gently — Sun, 07 Sep 2008 11:11:40 +0000

Honestly, it’s like the eighties died in vain. Privatising things makes them worse.

By: Bruce

Bruce — Sun, 07 Sep 2008 08:03:18 +0000

I don’t mind privatization so long as the investments are in leading-edge companies. Like Enron. Or in companies supervised by the government. Like both Fannie Mae and Freddie Mac.

By: Bill L.

Bill L. — Sun, 07 Sep 2008 06:51:51 +0000

And they are going to succeed, too. The only way they can really hope to bring down SS is if all the “worthless paper” backing the program, namely Treasury Securities, become genuinely worthless. How does that happen? Why by running up hopelessly large deficits and then trying to “print” your way out of debt by running the money press day and night. You might want to suppress the Federal prime lending rate while you are at it, and a massive multi-trillion dollar Wall Street bailout can help too, especially if you start accepting junk CDOs in lieu of actual debt payment.

Now if only they can create the perfect economic storm, the dollar will collapse, the government will go belly up, the whole sheebang will be “saved” by wealthy private interests offering to, well, duh, privatize them. See, they’ll say, the government can’t be trusted to run anything. Free market baby!

Thankfully, nothing like that is happening…

Doh!

By: The Liberal Curmudgeon

The Liberal Curmudgeon — Sun, 07 Sep 2008 05:35:20 +0000

Of course McCain, like Bush, despises social security. The Republicans have wanted to do away with it from the start. It doesn’t favor their constituency and contradicts their ideology. Social Security is not a cash cow for banks or Wall Street. It has allowed millions of everyday people to grow old with dignity and stability. What possible interest could the Republicans have in something like that?