“It is useless to attempt to reason a man out of a thing he was never reasoned into”

Jonathan Swift
___________________________________________________
"The Democrats have moved to the right, and the right has moved into a mental hospital." - Bill Maher
___________________________________________________
"The city is crowded my friends are away and I'm on my own
It's too hot to handle so I gotta get up and go

It's a cruel ... cruel summer"

Wednesday, January 12, 2005

Private Accounts

A thought:

Guarantee my social security principal . . .

Under social security now I am guaranteed to get a certain amount. Let's ballpark $2500/month, ok?

Now, if I choose to have one of Shrub's mysterious private accounts, and because of this choice I have my benefits cut by 30% which brings my monthly SS income down to $1750, why not require that the $750 (Making up the difference for the total $2500/month) is the MINIMUM rate of return?

IOW, require the investment guys to bring me a guaranteed rate of return over time that will be no lower than what I would make if I go social security all the way. If it comes up short . . . THEY have to cover the difference.

Banks have indexed linked CD's that guarantee principal, why not guarantee my social security principal?

BTW, if this was the deal NO financial firm would go for it. They want you to have all the risk.

Whadda ya think?

-Prodigal Son