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  #11  
Old 02-07-2023, 12:37 PM
Chicks Chicks is offline
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Join Date: Mar 2017
Posts: 14,444
Mike Pence, would-be president, has a plan to kill Social Security. It will cost you
https://finance.yahoo.com/news/colum...213549823.html

Quote:
Pence didn't say outright that he advocates killing Social Security. Instead, he took the course I reported on just last week. That's the Republican and conservative habit of employing plausible-sounding jargon and economists’ gibberish to conceal their intention to hobble the program.

But make no mistake: Diverting any significant portion of Social Security taxes into private accounts would make the program unworkable, funnel untold wealth into the hands of Wall Street promoters and leave millions of families destitute.

It's amazing that Pence would air out the private-account idea now, after a year in which the stock market returned a negative 23% (inflation-adjusted, as measured by the Standard & Poor's 500 index).

It was just such a dose of reality that helped kill the same proposal when it was put forth by President George W. Bush in 2001; Bush abandoned the idea in 2005, after the stock market return for 2001 to 2005 came to negative 2%, including two years of double-digit losses.
Same old unworkable "solutions" from the Repubes. Why do so many continue to vote for these fools?
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