Take the Administration’s attempt to privatize Social Security. The Administration argues that the stock market can provide individuals a better return on investment, and in the aggregate they are right; historically, the stock market outperforms Social Security’s cost of living adjustment. But individual investment decisions will always produce winners and losers. What would the Ownership Society do with the losers?
That doesn’t mean we shouldn’t encourage individuals to pursue higher-risk, higher-return investment strategies. They should. It just means that they should do so with savings other than those put into Social Security.
Take the Administration’s attempt to privatize Social Security. The Administration argues that the stock market can provide individuals a better return on investment, and in the aggregate they are right; historically, the stock market outperforms Social Security’s cost of living adjustment. But individual investment decisions will always produce winners and losers. What would the Ownership Society do with the losers?
That doesn’t mean we shouldn’t encourage individuals to pursue higher-risk, higher-return investment strategies. They should. It just means that they should do so with savings other than those put into Social Security.
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| 2012 Presidential contenders on Social Security: | |||
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Democrats:
Pres.Barack Obama(IL) V.P.Joe Biden(DE) Republicans: Gov.Mitt Romney(MA) Rep.Paul Ryan(WI) |
Third Parties:
Green: Dr.Jill Stein(MA) Libertarian: Gov.Gary Johnson(NM) Justice: Mayor Rocky Anderson(UT) Constitution: Rep.Virgil Goode(VA) Peace+Freedom: Roseanne Barr(HI) Reform Party: André Barnett(NY) AmericansElect: Gov.Buddy Roemer(LA) | ||
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