How else could he [McCain] offer a health care plan that would actually tax people's benefits, or an education plan that would do nothing to help families pay for college, or a plan that would privatize Social Security and gamble your retirement?
Does Barack Obama, a candidate for the highest office in this land, even understand how the Social Security program works? Social Security is essentially nothing more than a pyramid scheme in which participation is mandatory. The government forcibly takes 12.4% (don’t try and tell me that it is only 6.2% by not factoring in the employer portion) of your income (up to a certain threshold) and gives it to those who have already retired. To the extent that inflows from workers exceed outflows to retirees, the excess funds are put into trust and invested in government securities that have low risk but yield jack $hit. The government has managed this program so incredibly poorly that the Social Security program is expected to go broke sometime around 2040. If a private company instituted a scheme like Social Security and tried to sell it to the public, the SEC would lock up every executive that had anything to do with putting the scheme in place for life.
Yet Obama, the self proclaimed candidate for “hope” and “change” has the, uh, audacity to suggest that allowing workers the freedom to invest for their retirement themselves without government coercion is “gambling”. It scares me that our next President will be Obama or McCain. Thank you sir, may I have another?
